First Light Asset Management LLC Has $32.13 Million Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

First Light Asset Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 763,607 shares of the biopharmaceutical company’s stock after purchasing an additional 8,505 shares during the quarter. Ultragenyx Pharmaceutical makes up about 3.1% of First Light Asset Management LLC’s holdings, making the stock its 15th biggest position. First Light Asset Management LLC owned approximately 0.83% of Ultragenyx Pharmaceutical worth $32,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. increased its position in Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after buying an additional 76,150 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 294 shares during the last quarter. KBC Group NV raised its stake in shares of Ultragenyx Pharmaceutical by 2,275.8% in the 4th quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company’s stock valued at $2,567,000 after acquiring an additional 58,442 shares in the last quarter. abrdn plc boosted its position in Ultragenyx Pharmaceutical by 25.2% during the fourth quarter. abrdn plc now owns 317,125 shares of the biopharmaceutical company’s stock worth $13,341,000 after purchasing an additional 63,821 shares during the period. Finally, Nordea Investment Management AB boosted its position in Ultragenyx Pharmaceutical by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company’s stock worth $1,658,000 after purchasing an additional 3,246 shares during the period. Institutional investors own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $253,778.80. Following the completion of the transaction, the executive vice president now directly owns 265,238 shares of the company’s stock, valued at $11,166,519.80. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the sale, the chief accounting officer now directly owns 50,265 shares in the company, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,643 shares of company stock valued at $5,256,268. 5.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RARE. Canaccord Genuity Group upped their price objective 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 reaffirmed a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Stock Up 1.2 %

NASDAQ RARE opened at $38.09 on Monday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The stock has a market cap of $3.58 billion, a P/E ratio of -6.01 and a beta of 0.61. The company’s 50-day simple moving average is $37.79 and its 200 day simple moving average is $43.54.

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

Ultragenyx Pharmaceutical Company Profile

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.