New York State Common Retirement Fund Buys 19,673 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

New York State Common Retirement Fund boosted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,866 shares of the biopharmaceutical company's stock after purchasing an additional 19,673 shares during the period. New York State Common Retirement Fund owned about 0.09% of Ultragenyx Pharmaceutical worth $3,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company's stock valued at $257,862,000 after acquiring an additional 214,666 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Ultragenyx Pharmaceutical by 0.4% in the third quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company's stock valued at $185,233,000 after buying an additional 18,359 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 11.4% in the fourth quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company's stock valued at $116,992,000 after buying an additional 250,000 shares in the last quarter. Rock Springs Capital Management LP increased its holdings in Ultragenyx Pharmaceutical by 6.7% during the third quarter. Rock Springs Capital Management LP now owns 1,476,441 shares of the biopharmaceutical company's stock worth $52,635,000 after buying an additional 92,172 shares during the last quarter. Finally, FMR LLC raised its position in Ultragenyx Pharmaceutical by 23.4% during the third quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company's stock worth $36,641,000 after acquiring an additional 195,108 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

RARE has been the topic of several recent analyst reports. TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Wedbush decreased their target price on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday. Finally, Canaccord Genuity Group decreased their price objective on shares of Ultragenyx Pharmaceutical from $111.00 to $109.00 and set a "buy" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.85.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock traded up $0.26 during mid-day trading on Monday, reaching $43.01. 1,099,857 shares of the company were exchanged, compared to its average volume of 771,789. The company has a fifty day simple moving average of $47.10 and a 200-day simple moving average of $44.29. The firm has a market cap of $3.57 billion, a PE ratio of -5.36 and a beta of 0.68. Ultragenyx Pharmaceutical Inc. has a 12 month low of $31.52 and a 12 month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The firm had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. Ultragenyx Pharmaceutical's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.33) earnings per share. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.38 earnings per share for the current year.

Insider Activity

In other news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares of the company's stock, valued at $4,799,047.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the transaction, the executive vice president now owns 67,340 shares in the company, valued at approximately $3,620,198.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the sale, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,116 shares of company stock worth $1,645,983. Insiders own 6.80% of the company's stock.

Ultragenyx Pharmaceutical Company 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.