Price T Rowe Associates Inc. MD Buys 706,519 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Price T Rowe Associates Inc. increased its stake in Ultragenyx Pharmaceutical by 28.1%, owning approximately 3.40% of the company worth $116.56 million after acquiring an additional 706,519 shares in the first quarter.
• Several institutional investors, including GAMMA Investing LLC and Covestor Ltd, significantly boosted their stakes in Ultragenyx during the same period, indicating strong institutional interest.
• Analysts have mixed opinions on Ultragenyx's future, with a consensus rating of "Moderate Buy" and a target price averaging $81.50 despite a recent drop in estimates by some firms.

Price T Rowe Associates Inc. MD boosted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 28.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,218,942 shares of the biopharmaceutical company's stock after purchasing an additional 706,519 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.40% of Ultragenyx Pharmaceutical worth $116,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in RARE. Federated Hermes Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company's stock worth $74,419,000 after purchasing an additional 5,400 shares in the last quarter. Deutsche Bank AG lifted its position in Ultragenyx Pharmaceutical by 0.5% in the 1st quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company's stock worth $61,611,000 after buying an additional 8,385 shares during the last quarter. Vestal Point Capital LP grew its position in Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after acquiring an additional 750,000 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Ultragenyx Pharmaceutical by 23.1% during 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 in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Ultragenyx Pharmaceutical by 81.0% during the 4th quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company's stock valued at $49,764,000 after purchasing an additional 529,217 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

Insider Buying and Selling

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the sale, the director owned 15,344 shares in the company, valued at approximately $573,712.16. The trade was a 13.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RARE. William Blair assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price target for the company. Canaccord Genuity Group reduced their price target on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company decreased their price target on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Morgan Stanley dropped their price objective on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Finally, Cantor Fitzgerald decreased their target price on shares of Ultragenyx Pharmaceutical from $112.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Ultragenyx Pharmaceutical Price Performance

RARE stock traded down $0.34 during trading on Friday, reaching $29.96. The company had a trading volume of 1,340,019 shares, compared to its average volume of 1,517,307. The business has a 50 day moving average of $30.97 and a 200 day moving average of $35.21. The company has a market cap of $2.89 billion, a P/E ratio of -5.42 and a beta of 0.25. Ultragenyx Pharmaceutical Inc. has a 52 week low of $25.81 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The firm had revenue of $166.50 million during the quarter, compared to analyst estimates of $161.37 million. During the same quarter in the prior year, the company earned ($1.52) EPS. The business's revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts expect 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.