Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 18.4% in the 4th quarter, HoldingsChannel reports. The fund owned 12,132 shares of the biopharmaceutical company’s stock after acquiring an additional 1,889 shares during the period. DnB Asset Management AS’s holdings in Ultragenyx Pharmaceutical were worth $510,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RARE. Bamco Inc. NY acquired a new position in shares of Ultragenyx Pharmaceutical during the third quarter worth $2,666,000. Principal Financial Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased 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 valued at $928,000 after acquiring an additional 294 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Ultragenyx Pharmaceutical by 193.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,151 shares of the biopharmaceutical company’s stock worth $1,064,000 after acquiring an additional 12,617 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Ultragenyx Pharmaceutical by 35.9% during the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after purchasing an additional 172,711 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Trading Up 4.5 %

Shares of RARE opened at $35.37 on Thursday. The stock’s 50 day moving average is $41.26 and its two-hundred day moving average is $46.37. Ultragenyx Pharmaceutical Inc. has a twelve month low of $33.53 and a twelve month high of $60.37. The firm has a market capitalization of $3.32 billion, a PE ratio of -5.58 and a beta of 0.61.

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

Analysts Set New Price Targets

RARE has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of 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 reiterated a “neutral” rating and set a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.79.

Insider Activity

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total value of $128,211.20. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $253,778.80. Following the transaction, the executive vice president now directly owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,643 shares of company stock worth $5,256,268 in the last 90 days. 5.80% of the stock is currently 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.