Pier 88 Investment Partners LLC Reduces Position in Ultragenyx Pharmaceutical Inc. $RARE

Pier 88 Investment Partners LLC decreased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 34.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 14,730 shares of the biopharmaceutical company’s stock after selling 7,640 shares during the period. Pier 88 Investment Partners LLC’s holdings in Ultragenyx Pharmaceutical were worth $536,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock valued at $116,559,000 after acquiring an additional 706,519 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Ultragenyx Pharmaceutical by 81.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after purchasing an additional 965,919 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company’s stock worth $74,419,000 after purchasing an additional 5,400 shares during the last quarter. Deutsche Bank AG grew its position in Ultragenyx Pharmaceutical by 0.5% in the 1st quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock worth $61,611,000 after purchasing an additional 8,385 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in Ultragenyx Pharmaceutical by 3.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company’s stock valued at $54,147,000 after buying an additional 55,611 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 2,450 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $31.17, for a total value of $76,366.50. Following the transaction, the executive vice president owned 73,271 shares of the company’s stock, valued at approximately $2,283,857.07. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,942 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $31.51, for a total transaction of $250,252.42. Following the transaction, the chief financial officer owned 98,227 shares of the company’s stock, valued at approximately $3,095,132.77. This represents a 7.48% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,456 shares of company stock worth $328,486. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Truist Financial dropped their target price on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 9th. Wedbush dropped their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, July 14th. Finally, Wells Fargo & Company started coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They set an “overweight” rating and a $65.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

Ultragenyx Pharmaceutical Stock Down 1.0%

NASDAQ RARE opened at $30.63 on Friday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $25.81 and a twelve month high of $53.04. The business has a 50-day moving average price of $31.47 and a 200-day moving average price of $32.83. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -5.54 and a beta of 0.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The business had revenue of $159.93 million for the quarter, compared to the consensus estimate of $167.42 million. During the same period last year, the business posted ($1.40) EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal 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.