Clearbridge Investments LLC Decreases Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Clearbridge Investments LLC cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,322,205 shares of the biopharmaceutical company’s stock after selling 104,772 shares during the period. Clearbridge Investments LLC’s holdings in Ultragenyx Pharmaceutical were worth $97,695,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RARE. Van ECK Associates Corp lifted its position in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 worth $928,000 after acquiring an additional 294 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 0.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its holdings in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 493 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Ultragenyx Pharmaceutical by 8.1% during the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock valued at $388,000 after purchasing an additional 525 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the sale, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $36.21 on Tuesday. Ultragenyx Pharmaceutical Inc. has a one year low of $35.53 and a one year high of $60.37. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -5.71 and a beta of 0.67. The company’s 50-day simple moving average is $41.56 and its two-hundred day simple moving average is $46.62.

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

Analyst Ratings Changes

Several research analysts have issued reports on RARE shares. Piper Sandler dropped their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Wedbush restated a “neutral” rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $92.79.

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.