EFG Asset Management North America Corp. Raises Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

EFG Asset Management North America Corp. raised its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,443 shares of the biopharmaceutical company’s stock after purchasing an additional 30,055 shares during the quarter. Ultragenyx Pharmaceutical accounts for approximately 0.8% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 28th biggest holding. EFG Asset Management North America Corp.’s holdings in Ultragenyx Pharmaceutical were worth $5,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after buying an additional 769,884 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Ultragenyx Pharmaceutical by 123.4% in the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after acquiring an additional 545,600 shares during the period. Fisher Asset Management LLC purchased a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth approximately $11,156,000. Prudential Financial Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 659.5% during the 4th quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company’s stock worth $11,483,000 after purchasing an additional 237,003 shares during the period. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of Ultragenyx Pharmaceutical by 49.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after purchasing an additional 208,715 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares in the company, 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 have sold a total of 136,370 shares of company stock worth $5,751,499 in the last quarter. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 0.5 %

NASDAQ:RARE opened at $39.36 on Tuesday. The company has a market cap of $3.64 billion, a P/E ratio of -6.21 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The company’s 50-day moving average price is $41.81 and its 200-day moving average price is $47.26.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (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 company had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Wedbush restated a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Piper Sandler decreased their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.71.

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.