218,354 Shares in Ultragenyx Pharmaceutical Inc. $RARE Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 218,354 shares of the biopharmaceutical company’s stock, valued at approximately $4,575,000. Y Intercept Hong Kong Ltd owned about 0.22% of Ultragenyx Pharmaceutical as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RARE. Assenagon Asset Management S.A. boosted its stake in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Ultragenyx Pharmaceutical by 614.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after buying an additional 1,864,164 shares during the last quarter. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth about $29,004,000. Millennium Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 787.6% in the fourth quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock worth $20,255,000 after buying an additional 781,431 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth about $22,560,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RARE. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Guggenheim lowered their target price on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and dropped their price target for the company from $61.00 to $25.00 in a research report on Tuesday, March 24th. Finally, Cantor Fitzgerald increased their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.56.

Insiders Place Their Bets

In related news, Director Shehnaaz Suliman sold 5,740 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the transaction, the director directly owned 27,951 shares in the company, valued at approximately $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,319 shares of company stock valued at $476,837. Insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $33.47 on Monday. The firm’s 50-day moving average is $25.68 and its two-hundred day moving average is $24.47. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37. The company has a market capitalization of $3.30 billion, a PE ratio of -5.48 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned ($1.57) EPS. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.