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

Hudson Bay Capital Management LP lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 93.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 0.41% of Ultragenyx Pharmaceutical worth $15,881,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter worth $40,463,000. Deep Track Capital LP purchased a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at about $27,493,000. Pictet Asset Management Holding SA lifted its position in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock valued at $49,375,000 after buying an additional 653,088 shares in the last quarter. First Trust Advisors LP boosted its position in Ultragenyx Pharmaceutical by 3,097.1% during the 4th quarter. First Trust Advisors LP now owns 544,202 shares of the biopharmaceutical company's stock worth $22,894,000 after purchasing an additional 527,180 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in shares of Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after buying an additional 269,733 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RARE. Morgan Stanley upped their target price on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Canaccord Genuity Group upped their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target 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. Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, HC Wainwright restated a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $90.93.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded up $0.68 during midday trading on Friday, hitting $35.52. 208,360 shares of the stock traded hands, compared to its average volume of 888,932. The company has a market cap of $3.36 billion, a PE ratio of -5.60 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a one year low of $29.59 and a one year high of $60.37. The business has a 50 day moving average price of $36.45 and a two-hundred day moving average price of $41.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). The company had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm's revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.03) earnings per share. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the sale, the chief executive officer now owns 2,158,985 shares in the company, valued at $91,713,682.80. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction 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 in the company, valued at approximately $4,289,227.60. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,405 shares of company stock worth $5,285,169. 5.50% of the stock is owned by corporate insiders.

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.