Hudson Bay Capital Management LP Buys 182,500 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hudson Bay Capital Management LP raised its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 93.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 377,500 shares of the biopharmaceutical company's stock after acquiring an additional 182,500 shares during the period. Hudson Bay Capital Management LP owned approximately 0.41% of Ultragenyx Pharmaceutical worth $15,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $35,000. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at $42,000. Van ECK Associates Corp grew its position in 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 acquiring an additional 273 shares during the last quarter. Finally, Quarry LP purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $84,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $35.16 on Friday. The business's 50-day moving average is $36.77 and its 200 day moving average is $42.32. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37. The firm has a market capitalization of $3.30 billion, a P/E ratio of -5.55 and a beta of 0.34.

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 analysts' consensus estimates 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 company 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 earned ($2.03) earnings per share. The firm's revenue for the quarter 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.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the completion of the transaction, the chief executive officer now owns 2,158,985 shares of the company's stock, valued at $91,713,682.80. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,405 shares of company stock valued at $5,285,169. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Wedbush reaffirmed a "neutral" rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group boosted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Morgan Stanley raised their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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