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

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth approximately $27,493,000. Dark Forest Capital Management LP acquired a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $459,000. First Light Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 1.1% during the fourth quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock valued at $32,125,000 after buying an additional 8,505 shares in the last quarter. Stifel Financial Corp grew its holdings in Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock valued at $1,001,000 after purchasing an additional 2,835 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Ultragenyx Pharmaceutical by 23.1% during the 4th 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 last quarter. 97.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the transaction, the director directly owned 15,344 shares in the company, valued at $573,712.16. This represents a 13.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RARE shares. Cantor Fitzgerald reduced their target price on shares of Ultragenyx Pharmaceutical from $112.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company cut their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. HC Wainwright raised Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective on the stock in a research note on Monday, July 28th. Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Finally, Wedbush decreased their price objective on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.50.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded down $0.55 during trading hours on Friday, reaching $29.75. 904,129 shares of the stock were exchanged, compared to its average volume of 1,291,609. The stock has a market cap of $2.87 billion, a PE ratio of -5.39 and a beta of 0.25. Ultragenyx Pharmaceutical Inc. has a twelve month low of $25.81 and a twelve month high of $60.37. The firm has a 50 day moving average of $31.11 and a 200 day moving average of $35.36.

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