Point72 Asset Management L.P. Has $49.76 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Point72 Asset Management L.P. increased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 81.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 about 1.28% of Ultragenyx Pharmaceutical worth $49,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Ultragenyx Pharmaceutical by 18.4% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after acquiring an additional 294 shares in the last quarter. BOKF NA increased its stake in shares of Ultragenyx Pharmaceutical by 5.0% in the fourth quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company's stock worth $336,000 after acquiring an additional 382 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 493 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Ultragenyx Pharmaceutical by 2.4% during the fourth quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after purchasing an additional 568 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RARE. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Canaccord Genuity Group raised their price objective 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. Piper Sandler reduced their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Morgan Stanley increased their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.93.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the sale, the chief accounting officer now directly owns 50,265 shares of the company's stock, valued at $2,116,156.50. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,985 shares of the company's stock, valued at approximately $91,713,682.80. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,405 shares of company stock worth $5,285,169. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE traded down $1.88 during midday trading on Wednesday, hitting $35.47. The company's stock had a trading volume of 251,426 shares, compared to its average volume of 823,114. The stock's 50 day simple moving average is $36.27 and its 200 day simple moving average is $41.50. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -5.62 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). The business had revenue of $139.29 million during 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 business's quarterly 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, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current 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.