Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,068 shares of the biopharmaceutical company’s stock after selling 3,269 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Ultragenyx Pharmaceutical worth $3,112,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RARE. Federated Hermes Inc. lifted its position in Ultragenyx Pharmaceutical by 23.6% during the third quarter. Federated Hermes Inc. now owns 2,196,500 shares of the biopharmaceutical company’s stock worth $78,305,000 after buying an additional 419,900 shares during the period. Hudson Bay Capital Management LP increased its stake in Ultragenyx Pharmaceutical by 46.3% during the third quarter. Hudson Bay Capital Management LP now owns 734,272 shares of the biopharmaceutical company’s stock worth $26,177,000 after acquiring an additional 232,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock worth $257,862,000 after purchasing an additional 214,666 shares during the period. FMR LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 23.4% in the 3rd quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company’s stock valued at $36,641,000 after purchasing an additional 195,108 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 23.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 748,278 shares of the biopharmaceutical company’s stock worth $26,676,000 after purchasing an additional 143,991 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $44.24 on Friday. The business has a 50 day moving average price of $47.80 and a two-hundred day moving average price of $43.86. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. The business had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned ($2.16) earnings per share. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.38 EPS for the current fiscal year.

Insider Activity

In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at $3,620,198.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RARE has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wedbush reaffirmed a “neutral” rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They set an “outperform” rating and a $77.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.08.

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.