First Light Asset Management LLC Purchases 8,505 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

First Light Asset Management LLC lifted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 763,607 shares of the biopharmaceutical company’s stock after acquiring an additional 8,505 shares during the quarter. Ultragenyx Pharmaceutical makes up about 3.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 15th largest position. First Light Asset Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $32,125,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RARE. Smartleaf Asset Management LLC lifted its position in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $35,000. Human Investing LLC bought a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $42,000. Van ECK Associates Corp grew its holdings in Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth $83,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 14,439 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the sale, the insider now directly owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. This represents a 11.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at approximately $2,358,014.08. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,643 shares of company stock valued at $5,256,268. Corporate insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $38.09 on Monday. The stock has a market capitalization of $3.58 billion, a P/E ratio of -6.01 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The business has a 50-day moving average of $37.79 and a 200-day moving average of $43.54.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share 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 firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on RARE. Piper Sandler decreased their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Canaccord Genuity Group lifted their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted 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 research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.79.

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.