Adage Capital Partners GP L.L.C. Sells 342,660 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Adage Capital Partners GP L.L.C. cut its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,183,081 shares of the biopharmaceutical company's stock after selling 342,660 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.28% of Ultragenyx Pharmaceutical worth $49,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RARE. Wilmington Savings Fund Society FSB purchased a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $83,000. Principal Financial Group Inc. lifted its position in Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company's stock valued at $4,802,000 after buying an additional 76,150 shares during the last quarter. Nordea Investment Management AB boosted its stake in Ultragenyx Pharmaceutical by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock worth $1,658,000 after buying an additional 3,246 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ultragenyx Pharmaceutical by 1.4% in 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 during the period. Finally, KBC Group NV lifted its holdings in shares of Ultragenyx Pharmaceutical by 2,275.8% in the 4th quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock worth $2,567,000 after acquiring an additional 58,442 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RARE has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Piper Sandler decreased their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Wedbush reissued a "neutral" rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. 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 report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.79.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE traded up $0.77 on Wednesday, hitting $38.84. 178,261 shares of the stock were exchanged, compared to its average volume of 815,368. The company's 50-day moving average price is $37.66 and its 200 day moving average price is $43.42. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -6.13 and a beta of 0.61.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares of the company's stock, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock worth $5,256,268 in the last 90 days. Corporate insiders own 5.50% of the company's stock.

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.