Pitcairn Co. Sells 2,242 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pitcairn Co. decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,342 shares of the biopharmaceutical company’s stock after selling 2,242 shares during the period. Pitcairn Co.’s holdings in Ultragenyx Pharmaceutical were worth $351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $40,463,000. Pictet Asset Management Holding SA raised its position 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 valued at $49,375,000 after purchasing an additional 653,088 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth about $11,156,000. Prudential Financial Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 659.5% in the 4th quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company’s stock worth $11,483,000 after purchasing an additional 237,003 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its position in shares of Ultragenyx Pharmaceutical by 49.1% during 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 purchasing an additional 208,715 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RARE shares. Piper Sandler dropped their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Wedbush restated a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.79.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $32.43 on Monday. The business has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $45.93. The firm has a market capitalization of $3.04 billion, a PE ratio of -5.12 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 1 year low of $32.07 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The firm had revenue of $164.88 million during the quarter, compared to analysts’ expectations 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 expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the completion of the sale, the chief accounting officer now directly owns 50,265 shares of the company’s stock, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by 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.