Point72 Asset Management L.P. Raises Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Point72 Asset Management L.P. boosted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 81.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,182,877 shares of the biopharmaceutical company's stock after purchasing an additional 529,217 shares during the period. Point72 Asset Management L.P. owned approximately 1.28% of Ultragenyx Pharmaceutical worth $49,764,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $35,000. Human Investing LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $42,000. Van ECK Associates Corp grew its position in shares of Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. Finally, Quarry LP acquired a new stake in Ultragenyx Pharmaceutical during the 4th quarter valued at $84,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 73,434 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the transaction, the chief executive officer now directly owns 641,731 shares in the company, valued at $27,016,875.10. This represents a 10.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the company'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 transaction, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,405 shares of company stock worth $5,285,169 in the last quarter. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RARE. Morgan Stanley increased their target price on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Piper Sandler decreased their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Cantor Fitzgerald restated an "overweight" rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Finally, Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.93.

Ultragenyx Pharmaceutical Stock Up 1.6%

Shares of NASDAQ RARE traded up $0.58 during mid-day trading on Monday, reaching $36.19. 675,957 shares of the company were exchanged, compared to its average volume of 825,606. The company's 50-day simple moving average is $36.31 and its 200-day simple moving average is $41.53. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The stock has a market capitalization of $3.42 billion, a P/E ratio of -5.71 and a beta of 0.34.

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

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.