ADAR1 Capital Management LLC Purchases New Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

ADAR1 Capital Management LLC purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,000 shares of the biopharmaceutical company’s stock, valued at approximately $337,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RARE. Principal Financial Group Inc. raised 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 acquiring an additional 76,150 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 buying an additional 294 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Ultragenyx Pharmaceutical by 193.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 19,151 shares of the biopharmaceutical company’s stock worth $1,064,000 after buying an additional 12,617 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 valued at $87,296,000 after acquiring an additional 65,623 shares during the last quarter. Finally, KBC Group NV lifted its stake in Ultragenyx Pharmaceutical by 2,275.8% in the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company’s stock valued at $2,567,000 after acquiring an additional 58,442 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,990 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were 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 owns 54,991 shares of the company’s stock, valued at $2,358,014.08. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 2,158,985 shares of the company’s stock, valued at $91,713,682.80. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $32.43 on Monday. The company has a 50 day simple moving average of $40.83 and a two-hundred day simple moving average of $45.93. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $60.37. The company has a market capitalization of $3.04 billion, a PE ratio of -5.12 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) EPS for the quarter, missing the consensus estimate 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 company had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analysts Set New Price Targets

RARE has been the subject of several analyst reports. Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company upped their target price 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, JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $92.79.

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.