Fred Alger Management LLC Reduces Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Fred Alger Management LLC cut its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 466,265 shares of the biopharmaceutical company's stock after selling 70,033 shares during the period. Fred Alger Management LLC owned 0.50% of Ultragenyx Pharmaceutical worth $19,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after buying an additional 294 shares in the last quarter. BOKF NA boosted its holdings in shares of Ultragenyx Pharmaceutical by 5.0% in the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company's stock valued at $336,000 after buying an additional 382 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 493 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Ultragenyx Pharmaceutical by 2.4% in the 4th quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after buying an additional 568 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $0.82 during mid-day trading on Friday, hitting $35.16. The stock had a trading volume of 1,136,694 shares, compared to its average volume of 825,828. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The firm has a market cap of $3.30 billion, a PE ratio of -5.55 and a beta of 0.34. The company's 50-day simple moving average is $36.77 and its 200-day simple moving average is $42.24.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. During the same quarter last year, the business posted ($2.03) EPS. The firm's revenue was up 28.0% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the completion of the sale, the executive vice president now owns 54,991 shares in the company, valued at $2,358,014.08. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $40,710.70. Following the completion of the sale, the chief accounting officer now owns 50,265 shares of the company's stock, valued at $2,116,156.50. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,405 shares of company stock worth $5,285,169 over the last 90 days. Company insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RARE shares. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Canaccord Genuity Group upped their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. HC Wainwright restated a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, Morgan Stanley increased their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.93.

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.