MPM Bioimpact LLC Increases Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

MPM Bioimpact LLC grew its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,018 shares of the biopharmaceutical company’s stock after acquiring an additional 61,285 shares during the period. Ultragenyx Pharmaceutical comprises approximately 2.3% of MPM Bioimpact LLC’s portfolio, making the stock its 17th largest position. MPM Bioimpact LLC’s holdings in Ultragenyx Pharmaceutical were worth $16,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RARE. Vanguard Group Inc. lifted its position in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock valued at $422,167,000 after acquiring an additional 89,389 shares during the last quarter. Invesco Ltd. raised its holdings in Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after purchasing an additional 25,487 shares in the last quarter. Alliancebernstein L.P. grew its position in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after buying an additional 81,667 shares during the period. Alyeska Investment Group L.P. grew its position in Ultragenyx Pharmaceutical by 23.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock worth $60,570,000 after buying an additional 269,733 shares during the period. Finally, Pictet Asset Management Holding SA grew 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 worth $49,375,000 after buying an additional 653,088 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CAO Theodore Alan Huizenga sold 967 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 50,265 shares of the company’s stock, valued at approximately $2,116,156.50. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,158,985 shares of the company’s stock, valued at approximately $91,713,682.80. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,405 shares of company stock worth $5,285,169. Corporate insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 1.9%

Shares of NASDAQ RARE opened at $35.40 on Wednesday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -5.58 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 12 month low of $29.59 and a 12 month high of $60.37. The stock has a 50-day moving average price of $36.67 and a two-hundred day moving average price of $42.11.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The company had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.03) earnings per share. On average, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.93.

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.