AlphaQuest LLC Acquires 6,022 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

AlphaQuest LLC raised its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 280.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,167 shares of the biopharmaceutical company’s stock after purchasing an additional 6,022 shares during the quarter. AlphaQuest LLC’s holdings in Ultragenyx Pharmaceutical were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Alkeon Capital Management LLC raised its position in Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after acquiring an additional 769,884 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the period. Fisher Asset Management LLC purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $11,156,000. Frazier Life Sciences Management L.P. grew its holdings in Ultragenyx Pharmaceutical by 49.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after purchasing an additional 208,715 shares during the period. Finally, Ikarian Capital LLC purchased a new stake in Ultragenyx Pharmaceutical in the third quarter worth $9,943,000. Institutional investors own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of recent research reports. Piper Sandler upped their price target on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wedbush reaffirmed a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $39.34 on Friday. The company has a market capitalization of $3.64 billion, a PE ratio of -6.21 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 52-week low of $37.02 and a 52-week high of $60.37. The business’s fifty day moving average is $42.29 and its 200 day moving average is $48.13.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 14,439 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $607,881.90. Following the sale, the insider now owns 107,766 shares in the company, valued at $4,536,948.60. This trade represents a 11.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,370 shares of company stock valued at $5,751,499 over the last three months. 5.80% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical 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.