Cinctive Capital Management LP Purchases 47,058 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Cinctive Capital Management LP raised its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 295.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,960 shares of the biopharmaceutical company’s stock after purchasing an additional 47,058 shares during the period. Cinctive Capital Management LP owned approximately 0.07% of Ultragenyx Pharmaceutical worth $2,649,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of RARE. Vanguard Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock valued at $422,167,000 after buying an additional 89,389 shares during the period. Alliancebernstein L.P. grew its stake in Ultragenyx Pharmaceutical by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock valued at $68,487,000 after acquiring an additional 81,667 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after acquiring an additional 65,623 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after purchasing an additional 653,088 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 123.4% during the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on RARE shares. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Piper Sandler reduced their price objective 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. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.79.

Ultragenyx Pharmaceutical Stock Up 4.5 %

Shares of Ultragenyx Pharmaceutical stock opened at $35.37 on Thursday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $33.53 and a 12-month high of $60.37. The business’s 50 day moving average is $41.26 and its 200-day moving average is $46.37. The stock has a market cap of $3.32 billion, a P/E ratio of -5.58 and a beta of 0.61.

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 firm had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction 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 sale, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the transaction, the chief executive officer now directly owns 2,158,985 shares of the company’s stock, valued at approximately $91,713,682.80. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,643 shares of company stock worth $5,256,268. 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.