Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,415 shares of the biopharmaceutical company's stock after selling 14,611 shares during the quarter. Granite Investment Partners LLC owned about 0.17% of Ultragenyx Pharmaceutical worth $6,749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. F M Investments LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $1,767,000. Raymond James Financial Inc. acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $916,000. Renaissance Technologies LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 254,700 shares of the biopharmaceutical company's stock worth $10,715,000 after buying an additional 72,600 shares during the last quarter. Invesco Ltd. grew its holdings in Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after acquiring an additional 25,487 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $337,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded up $0.71 during mid-day trading on Friday, reaching $35.69. The company's stock had a trading volume of 690,760 shares, compared to its average volume of 807,943. The stock has a 50-day moving average of $38.57 and a two-hundred day moving average of $44.40. The stock has a market capitalization of $3.35 billion, a P/E ratio of -5.63 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed a "neutral" rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. HC Wainwright reiterated a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.79.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares of the company's stock, valued at $11,166,519.80. This represents a 2.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Richard Pinion sold 14,439 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $607,881.90. Following the sale, the insider now owns 107,766 shares of the company's stock, valued at $4,536,948.60. This represents a 11.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,643 shares of company stock valued at $5,256,268. Insiders own 5.50% of the company's stock.

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.