First Light Asset Management LLC Grows Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

First Light Asset Management LLC increased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 763,607 shares of the biopharmaceutical company's stock after purchasing an additional 8,505 shares during the period. Ultragenyx Pharmaceutical makes up 3.1% of First Light Asset Management LLC's holdings, making the stock its 15th biggest holding. First Light Asset Management LLC owned 0.83% of Ultragenyx Pharmaceutical worth $32,125,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of RARE. Northern Trust Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 11.8% during the 4th quarter. Northern Trust Corp now owns 528,965 shares of the biopharmaceutical company's stock worth $22,254,000 after buying an additional 55,641 shares in the last quarter. Quarry LP bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at approximately $84,000. Aquatic Capital Management LLC increased its position in Ultragenyx Pharmaceutical by 327.4% during the 4th quarter. Aquatic Capital Management LLC now owns 102,571 shares of the biopharmaceutical company's stock worth $4,315,000 after purchasing an additional 78,571 shares in the last quarter. Birchview Capital LP bought a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at approximately $673,000. Finally, Nebula Research & Development LLC boosted its position in Ultragenyx Pharmaceutical by 110.3% in the fourth quarter. Nebula Research & Development LLC now owns 8,876 shares of the biopharmaceutical company's stock valued at $373,000 after buying an additional 4,655 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RARE shares. Wedbush reaffirmed a "neutral" rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group lifted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Piper Sandler reduced their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Finally, HC Wainwright restated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Stock Up 0.8 %

RARE traded up $0.33 during trading on Friday, hitting $39.30. 1,044,476 shares of the company's stock were exchanged, compared to its average volume of 815,175. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The stock has a market cap of $3.69 billion, a P/E ratio of -6.20 and a beta of 0.34. The business's 50 day moving average is $37.38 and its two-hundred day moving average is $43.11.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the transaction, the chief accounting officer now directly owns 50,265 shares in the company, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,643 shares of company stock worth $5,256,268. 5.50% of the stock is owned by insiders.

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.