Magnetar Financial LLC Invests $285,000 in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Magnetar Financial LLC acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,779 shares of the biopharmaceutical company’s stock, valued at approximately $285,000.

Several other large investors have also bought and sold shares of RARE. Alkeon Capital Management LLC lifted its holdings in 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 valued at $167,301,000 after buying an additional 769,884 shares during the period. 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 buying an additional 545,600 shares during the period. Fisher Asset Management LLC acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $11,156,000. Frazier Life Sciences Management L.P. raised its holdings in Ultragenyx Pharmaceutical by 49.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock worth $35,203,000 after purchasing an additional 208,715 shares during the period. Finally, Ikarian Capital LLC acquired a new stake in Ultragenyx Pharmaceutical in the third quarter worth $9,943,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 14,439 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $607,881.90. Following the completion of the transaction, the insider now owns 107,766 shares of the company’s stock, valued at $4,536,948.60. This trade represents a 11.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at approximately $2,358,014.08. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,370 shares of company stock valued at $5,751,499. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

RARE has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wedbush reiterated a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. 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 cut their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $91.71.

Ultragenyx Pharmaceutical Trading Up 0.7 %

Ultragenyx Pharmaceutical stock opened at $39.18 on Monday. The company has a market cap of $3.62 billion, a P/E ratio of -6.18 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The company has a fifty day simple moving average of $41.88 and a 200 day simple moving average of $47.38.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

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.