Ultragenyx Pharmaceutical Inc. $RARE Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its Ultragenyx Pharmaceutical stake by 57.6% in the fourth quarter, ending with 903,050 shares valued at about $20.8 million.
• Several other institutional investors also added positions, and 97.67% of RARE shares are held by hedge funds and other institutions, signaling heavy institutional ownership.
• Ultragenyx reported a quarterly loss of $1.84 per share and revenue of $136 million, both below estimates, while the stock traded down about 6% and insiders also sold shares recently.

BNP Paribas Financial Markets raised its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 57.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 903,050 shares of the biopharmaceutical company's stock after acquiring an additional 330,031 shares during the quarter. BNP Paribas Financial Markets owned 0.94% of Ultragenyx Pharmaceutical worth $20,770,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth about $29,004,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter worth approximately $331,000. Geode Capital Management LLC boosted its stake in Ultragenyx Pharmaceutical by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 1,838,208 shares of the biopharmaceutical company's stock worth $42,287,000 after purchasing an additional 257,701 shares during the period. Fisher Asset Management LLC lifted its position in Ultragenyx Pharmaceutical by 18.2% in the 4th quarter. Fisher Asset Management LLC now owns 198,696 shares of the biopharmaceutical company's stock worth $4,570,000 after buying an additional 30,612 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Ultragenyx Pharmaceutical by 2.1% during the 4th quarter. Legal & General Group Plc now owns 411,273 shares of the biopharmaceutical company's stock worth $9,459,000 after buying an additional 8,458 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RARE shares. Truist Financial raised shares of Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Guggenheim reduced their price target on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 8th. Wedbush lowered their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Finally, HC Wainwright cut their price target on shares of Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus target price of $59.56.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 4,683 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $24.90, for a total value of $116,606.70. Following the completion of the transaction, the chief financial officer directly owned 110,342 shares of the company's stock, valued at $2,747,515.80. This trade represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total transaction of $144,188.80. Following the completion of the transaction, the director owned 27,951 shares in the company, valued at approximately $702,129.12. This trade represents a 17.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,103 shares of company stock valued at $478,186 over the last ninety days. 5.20% of the stock is currently owned by insiders.

Ultragenyx Pharmaceutical Trading Down 6.0%

RARE stock opened at $21.91 on Friday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37. The company has a 50-day moving average price of $23.69 and a 200 day moving average price of $25.46. The stock has a market cap of $2.16 billion, a PE ratio of -3.59 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The company had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.57) EPS. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.57 EPS for the current year.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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