Palo Alto Investors LP purchased a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 596,495 shares of the biopharmaceutical company’s stock, valued at approximately $19,916,968,000. Ultragenyx Pharmaceutical accounts for approximately 2.8% of Palo Alto Investors LP’s holdings, making the stock its 12th largest holding. Palo Alto Investors LP owned approximately 0.61% of Ultragenyx Pharmaceutical as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of RARE. CANADA LIFE ASSURANCE Co boosted its holdings in Ultragenyx Pharmaceutical by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after purchasing an additional 534 shares during the period. Van ECK Associates Corp raised its position in Ultragenyx Pharmaceutical by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 549 shares in the last quarter. Tidal Investments LLC raised its position in Ultragenyx Pharmaceutical by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock valued at $458,000 after purchasing an additional 564 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 0.4% in the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock valued at $3,612,000 after buying an additional 577 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 751 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
Insider Buying and Selling at Ultragenyx Pharmaceutical
In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. The trade was a 1.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,552 shares of company stock valued at $207,455. 5.20% of the stock is owned by company insiders.
Ultragenyx Pharmaceutical Price Performance
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The business’s revenue was up 28.5% compared to the same quarter last year. Analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.99 earnings per share for the current year.
Analyst Ratings Changes
RARE has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Royal Bank Of Canada increased their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Guggenheim cut their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald lifted their price target on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.22.
Check Out Our Latest Stock Report on RARE
Ultragenyx Pharmaceutical Profile
Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.
The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.
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