PDT Partners LLC Sells 17,334 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

PDT Partners LLC lessened its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 26.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,859 shares of the biopharmaceutical company's stock after selling 17,334 shares during the quarter. PDT Partners LLC owned approximately 0.05% of Ultragenyx Pharmaceutical worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RARE. Vanguard Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock worth $422,167,000 after buying an additional 89,389 shares in the last quarter. Invesco Ltd. raised its position in Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after purchasing an additional 25,487 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Ultragenyx Pharmaceutical by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock valued at $68,487,000 after purchasing an additional 81,667 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Ultragenyx Pharmaceutical by 125.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after buying an additional 653,088 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Ultragenyx Pharmaceutical by 27.9% in the 4th quarter. Marshall Wace LLP now owns 1,051,573 shares of the biopharmaceutical company's stock valued at $44,240,000 after buying an additional 229,561 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction dated 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 transaction, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,643 shares of company stock valued at $5,256,268 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Finally, Canaccord Genuity Group upped their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded down $0.17 during midday trading on Monday, reaching $39.13. The stock had a trading volume of 148,849 shares, compared to its average volume of 811,242. The stock has a market capitalization of $3.67 billion, a P/E ratio of -6.19 and a beta of 0.34. The firm's fifty day simple moving average is $37.38 and its 200-day simple moving average is $42.91. 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 announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

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.