Frazier Life Sciences Management L.P. Increases Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Frazier Life Sciences Management L.P. increased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 658,715 shares of the biopharmaceutical company's stock after purchasing an additional 25,000 shares during the quarter. Ultragenyx Pharmaceutical makes up about 1.2% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 21st biggest position. Frazier Life Sciences Management L.P. owned approximately 0.71% of Ultragenyx Pharmaceutical worth $27,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Ultragenyx Pharmaceutical by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock worth $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Invesco Ltd. boosted its holdings in Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after purchasing an additional 25,487 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock worth $68,487,000 after purchasing an additional 81,667 shares during the last quarter. Vestal Point Capital LP raised its position in Ultragenyx Pharmaceutical by 100.0% in the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock worth $63,105,000 after acquiring an additional 750,000 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock worth $60,570,000 after acquiring an additional 269,733 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Theodore Alan Huizenga sold 967 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now owns 50,265 shares of the company's stock, valued at approximately $2,116,156.50. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the sale, the executive vice president now directly owns 265,238 shares of the company's stock, valued at $11,166,519.80. This trade represents a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,405 shares of company stock valued at $5,285,169. Corporate insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.93.

Ultragenyx Pharmaceutical Trading Up 0.4%

Shares of NASDAQ:RARE traded up $0.15 during trading on Friday, reaching $35.66. The company had a trading volume of 441,516 shares, compared to its average volume of 824,983. The company has a fifty day moving average of $36.05 and a two-hundred day moving average of $41.24. The stock has a market capitalization of $3.37 billion, a P/E ratio of -5.62 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 12 month low of $29.59 and a 12 month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly 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 return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. During the same period in the previous year, the company earned ($2.03) EPS. Ultragenyx Pharmaceutical's quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

About Ultragenyx Pharmaceutical

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.