Hudson Bay Capital Management LP Increases Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hudson Bay Capital Management LP boosted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 93.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 377,500 shares of the biopharmaceutical company’s stock after purchasing an additional 182,500 shares during the period. Hudson Bay Capital Management LP’s holdings in Ultragenyx Pharmaceutical were worth $15,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Graham Capital Management L.P. raised its position in Ultragenyx Pharmaceutical by 37.5% during the fourth quarter. Graham Capital Management L.P. now owns 59,129 shares of the biopharmaceutical company’s stock worth $2,488,000 after acquiring an additional 16,128 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Ultragenyx Pharmaceutical by 9.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 286,079 shares of the biopharmaceutical company’s stock valued at $12,035,000 after buying an additional 24,485 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Ultragenyx Pharmaceutical by 17.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 346,597 shares of the biopharmaceutical company’s stock worth $14,581,000 after buying an additional 51,874 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Ultragenyx Pharmaceutical by 5.8% during the 4th quarter. Driehaus Capital Management LLC now owns 829,465 shares of the biopharmaceutical company’s stock worth $34,896,000 after buying an additional 45,521 shares in the last quarter. Finally, Deep Track Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $27,493,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Down 2.3 %

Shares of RARE stock opened at $35.16 on Friday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The firm’s 50 day moving average price is $36.77 and its two-hundred day moving average price is $42.32. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -5.55 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same period last year, the business earned ($2.03) EPS. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Richard Pinion sold 14,439 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 $607,881.90. Following the sale, the insider now owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. The trade was a 11.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the 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 owns 54,991 shares of the company’s stock, valued at $2,358,014.08. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 over the last 90 days. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. 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. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.93.

Ultragenyx Pharmaceutical 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.