Ultragenyx Pharmaceutical Inc. $RARE Shares Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in Ultragenyx Pharmaceutical Inc. by 12.5%, owning a total of 524,637 shares valued at about $19 million as of the latest SEC filing.
• Ultragenyx reported a quarterly revenue of $166.5 million, surpassing analysts' expectations, while beating EPS estimates by $0.10.
• Analysts have mixed ratings for Ultragenyx, with the stock having a consensus rating of "Moderate Buy" and an average price target of $81.50.

Fred Alger Management LLC raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,637 shares of the biopharmaceutical company's stock after acquiring an additional 58,372 shares during the period. Fred Alger Management LLC owned 0.55% of Ultragenyx Pharmaceutical worth $18,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RARE. GAMMA Investing LLC grew its stake in Ultragenyx Pharmaceutical by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 323 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $57,000. Headlands Technologies LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $59,000. Covestor Ltd boosted its holdings in shares of Ultragenyx Pharmaceutical by 86.8% in the first quarter. Covestor Ltd now owns 1,711 shares of the biopharmaceutical company's stock valued at $62,000 after acquiring an additional 795 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Analyst Upgrades and Downgrades

RARE has been the subject of a number of recent research reports. William Blair assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price target for the company. 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 report on Monday, July 14th. Wells Fargo & Company decreased their price objective on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $105.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday. Finally, HC Wainwright raised Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price target for the company in a report on Monday, July 28th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred 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 completion of the sale, the director directly owned 15,344 shares in the company, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $31.51 on Tuesday. The business has a 50 day simple moving average of $30.30 and a 200-day simple moving average of $34.65. The stock has a market capitalization of $3.04 billion, a P/E ratio of -5.70 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a 12 month low of $25.81 and a 12 month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating 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 business had revenue of $166.50 million during the quarter, compared to analysts' expectations of $161.37 million. During the same period last year, the firm earned ($1.52) EPS. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

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.

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