Moore Capital Management LP lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,035 shares of the biopharmaceutical company’s stock after selling 29,097 shares during the quarter. Moore Capital Management LP owned about 0.13% of Ultragenyx Pharmaceutical worth $4,275,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $355,746,000. Assenagon Asset Management S.A. raised its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after purchasing an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after purchasing an additional 1,864,164 shares during the last quarter. Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $29,004,000. Finally, Bank of America Corp DE acquired a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth $38,347,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.
Ultragenyx Pharmaceutical Price Performance
Shares of Ultragenyx Pharmaceutical stock opened at $25.21 on Tuesday. The firm’s fifty day simple moving average is $28.47 and its 200-day simple moving average is $25.04. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $39.89. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -4.32 and a beta of 0.35.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on RARE shares. Guggenheim dropped their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Monday, August 10th. Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Cantor Fitzgerald raised their target price on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.
Check Out Our Latest Stock Report on RARE
Insider Activity at Ultragenyx Pharmaceutical
In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at $528,429.75. This represents a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.20% of the company’s stock.
About Ultragenyx Pharmaceutical
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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