Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Position Boosted by Northern Trust Corp

Northern Trust Corp grew its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 528,965 shares of the biopharmaceutical company's stock after purchasing an additional 55,641 shares during the period. Northern Trust Corp owned 0.57% of Ultragenyx Pharmaceutical worth $22,254,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $84,000. Aquatic Capital Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 327.4% during the 4th quarter. Aquatic Capital Management LLC now owns 102,571 shares of the biopharmaceutical company's stock worth $4,315,000 after acquiring an additional 78,571 shares during the period. Birchview Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $673,000. Nebula Research & Development LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 110.3% during the 4th quarter. Nebula Research & Development LLC now owns 8,876 shares of the biopharmaceutical company's stock worth $373,000 after acquiring an additional 4,655 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $310,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded up $0.77 during mid-day trading on Friday, reaching $35.61. 616,642 shares of the company were exchanged, compared to its average volume of 826,207. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The company has a market capitalization of $3.37 billion, a P/E ratio of -5.62 and a beta of 0.34. The business's 50 day simple moving average is $36.39 and its 200 day simple moving average is $41.64.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm's quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.03) EPS. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 14,439 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $607,881.90. Following the sale, the insider now directly owns 107,766 shares in the company, valued at approximately $4,536,948.60. This trade represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the firm's stock in a transaction on 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. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 over the last 90 days. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RARE has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. HC Wainwright reiterated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Morgan Stanley increased their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $90.93.

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.