ExodusPoint Capital Management LP Purchases Shares of 87,017 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

ExodusPoint Capital Management LP acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 87,017 shares of the biopharmaceutical company’s stock, valued at approximately $3,661,000. ExodusPoint Capital Management LP owned approximately 0.09% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RARE. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $40,463,000. Pictet Asset Management Holding SA increased its holdings in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after buying an additional 653,088 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth $11,156,000. Prudential Financial Inc. lifted its stake in Ultragenyx Pharmaceutical by 659.5% in the fourth quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company’s stock valued at $11,483,000 after acquiring an additional 237,003 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its position in shares of Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after acquiring an additional 208,715 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RARE. Canaccord Genuity Group raised their target price 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. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Piper Sandler decreased their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One 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 presently has an average rating of “Moderate Buy” and an average target price of $92.79.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $32.43 on Monday. The firm has a market cap of $3.04 billion, a PE ratio of -5.12 and a beta of 0.61. The stock’s fifty day moving average price is $40.83 and its two-hundred day moving average price is $45.93. Ultragenyx Pharmaceutical Inc. has a one year low of $32.07 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $163.23 million. Sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $128,211.20. Following the completion of the transaction, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by corporate insiders.

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.