MPM Bioimpact LLC Has $16.45 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

MPM Bioimpact LLC increased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,018 shares of the biopharmaceutical company's stock after acquiring an additional 61,285 shares during the quarter. Ultragenyx Pharmaceutical makes up approximately 2.3% of MPM Bioimpact LLC's holdings, making the stock its 17th biggest holding. MPM Bioimpact LLC owned 0.42% of Ultragenyx Pharmaceutical worth $16,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of RARE. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth about $40,463,000. Deep Track Capital LP acquired a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $27,493,000. Pictet Asset Management Holding SA increased its stake in shares of Ultragenyx Pharmaceutical by 125.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock valued at $49,375,000 after purchasing an additional 653,088 shares during the period. First Trust Advisors LP increased its stake in shares of Ultragenyx Pharmaceutical by 3,097.1% in the fourth quarter. First Trust Advisors LP now owns 544,202 shares of the biopharmaceutical company's stock valued at $22,894,000 after purchasing an additional 527,180 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after acquiring an additional 269,733 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now owns 54,991 shares of the company's stock, valued at $2,358,014.08. This trade represents a 5.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Richard Pinion sold 14,439 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the sale, the insider now directly owns 107,766 shares of the company's stock, valued at $4,536,948.60. This trade represents a 11.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,405 shares of company stock valued at $5,285,169. Company insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock traded up $0.77 during midday trading on Friday, reaching $35.61. The stock had a trading volume of 616,642 shares, compared to its average volume of 826,114. The firm's fifty day simple moving average is $36.39 and its two-hundred day simple moving average is $41.70. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -5.62 and a beta of 0.34.

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