Vestal Point Capital LP Acquires 750,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Vestal Point Capital LP raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 100.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the biopharmaceutical company's stock after purchasing an additional 750,000 shares during the period. Ultragenyx Pharmaceutical comprises 3.7% of Vestal Point Capital LP's investment portfolio, making the stock its 5th biggest position. Vestal Point Capital LP owned approximately 1.62% of Ultragenyx Pharmaceutical worth $63,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Deep Track Capital LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $27,493,000. KBC Group NV raised its stake in Ultragenyx Pharmaceutical by 2,275.8% in the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock valued at $2,567,000 after buying an additional 58,442 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Ultragenyx Pharmaceutical in the fourth quarter valued at $459,000. First Light Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 1.1% during the 4th quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock worth $32,125,000 after buying an additional 8,505 shares during the last quarter. Finally, abrdn plc lifted its holdings in Ultragenyx Pharmaceutical by 25.2% during the 4th quarter. abrdn plc now owns 317,125 shares of the biopharmaceutical company's stock worth $13,341,000 after buying an additional 63,821 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 73,434 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the transaction, the chief executive officer now owns 641,731 shares of the company's stock, valued at approximately $27,016,875.10. The trade was a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now directly owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 in the last ninety days. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 0.3%

NASDAQ:RARE traded up $0.10 during trading hours on Thursday, reaching $35.51. 514,307 shares of the company's stock were exchanged, compared to its average volume of 825,531. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -5.60 and a beta of 0.34. The company has a 50-day moving average of $36.11 and a 200 day moving average of $41.35. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. During the same period in the previous year, the company posted ($2.03) earnings per share. Ultragenyx Pharmaceutical's quarterly revenue was up 28.0% on a year-over-year basis. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RARE. Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Canaccord Genuity Group increased their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Piper Sandler reduced their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.93.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.