AlphaQuest LLC Has $344,000 Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

AlphaQuest LLC grew its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 280.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC raised its holdings in Ultragenyx Pharmaceutical by 46.9% in the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after buying an additional 23,580 shares during the last quarter. Bamco Inc. NY bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at $2,666,000. Principal Financial Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after purchasing an additional 76,150 shares during the period. Cerity Partners LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth $1,773,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 294 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $39.34 on Friday. The stock 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 stock has a 50 day moving average price of $42.29 and a two-hundred day moving average price of $48.13.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $163.23 million. Research analysts forecast 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 research reports. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Wedbush reissued 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. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Piper Sandler increased their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.50.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,370 shares of company stock valued at $5,751,499 over the last three months. Corporate insiders own 5.80% of the company’s stock.

About Ultragenyx Pharmaceutical

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.