PDT Partners LLC Grows Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

PDT Partners LLC raised its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 26.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,193 shares of the biopharmaceutical company’s stock after acquiring an additional 13,718 shares during the quarter. PDT Partners LLC owned approximately 0.07% of Ultragenyx Pharmaceutical worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $17,468,000. Algert Global LLC increased its position in Ultragenyx Pharmaceutical by 46.9% during the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after buying an additional 23,580 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Ultragenyx Pharmaceutical during the first quarter worth $691,000. Candriam S.C.A. raised its holdings in shares of Ultragenyx Pharmaceutical by 33.1% in the second quarter. Candriam S.C.A. now owns 688,942 shares of the biopharmaceutical company’s stock worth $28,314,000 after acquiring an additional 171,345 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 47.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 73,289 shares of the biopharmaceutical company’s stock valued at $3,012,000 after acquiring an additional 23,752 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wells Fargo & Company raised their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wedbush boosted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $87.46.

Ultragenyx Pharmaceutical Trading Down 1.0 %

RARE stock opened at $47.63 on Friday. The company has a market cap of $4.40 billion, a PE ratio of -7.36 and a beta of 0.58. The stock has a 50-day moving average price of $52.04 and a two-hundred day moving average price of $48.61. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter in the previous year, the business earned ($2.23) EPS. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. Equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock valued at $1,515,967 over the last 90 days. 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.