Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Position Raised by Peregrine Capital Management LLC

Peregrine Capital Management LLC boosted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 22.1% during the 4th quarter, HoldingsChannel reports. The firm owned 163,888 shares of the biopharmaceutical company’s stock after buying an additional 29,684 shares during the quarter. Peregrine Capital Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $6,895,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Alkeon Capital Management LLC boosted its position 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 period. Baker BROS. Advisors LP grew its stake in Ultragenyx Pharmaceutical by 7.5% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after acquiring an additional 109,567 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP lifted its position in shares of Ultragenyx Pharmaceutical by 123.4% in the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Ultragenyx Pharmaceutical by 35.9% during the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after purchasing an additional 172,711 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Trading Up 2.7 %

Shares of RARE opened at $43.62 on Wednesday. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37. The company’s fifty day moving average price is $43.46 and its 200 day moving average price is $49.59.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The business had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 185.70% and a negative net margin of 101.60%. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.98 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Piper Sandler upped their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.50.

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.