Emerald Mutual Fund Advisers Trust Boosts Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Emerald Mutual Fund Advisers Trust grew its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 9.9% in the third quarter, Holdings Channel.com reports. The firm owned 429,302 shares of the biopharmaceutical company’s stock after acquiring an additional 38,778 shares during the quarter. Ultragenyx Pharmaceutical makes up approximately 1.2% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 27th biggest position. Emerald Mutual Fund Advisers Trust’s holdings in Ultragenyx Pharmaceutical were worth $23,848,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $28,000. nVerses Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $33,000. UMB Bank n.a. grew its position in shares of Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $56,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 1,339 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RARE has been the topic of a number of recent analyst reports. Wedbush upped their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. TD Cowen upped their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.08.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $50.99 on Friday. The stock has a market cap of $4.70 billion, a P/E ratio of -6.98 and a beta of 0.58. The business’s fifty day simple moving average is $55.70 and its 200-day simple moving average is $47.94. Ultragenyx Pharmaceutical Inc. has a 12-month low of $34.06 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. The firm had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s revenue was up 35.7% compared to the same quarter last year. During the same period last year, the business posted ($2.25) earnings per share. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.29 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,556 shares of company stock worth $2,519,367. Company insiders own 5.80% of the company’s stock.

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.