Prudential Financial Inc. Boosts Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Prudential Financial Inc. grew its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 659.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,940 shares of the biopharmaceutical company’s stock after purchasing an additional 237,003 shares during the period. Prudential Financial Inc. owned approximately 0.30% of Ultragenyx Pharmaceutical worth $11,483,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Ultragenyx Pharmaceutical by 0.9% during the 4th 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 period. Alkeon Capital Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Ultragenyx Pharmaceutical by 7.5% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after purchasing an additional 109,567 shares during the period. Geode Capital Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after purchasing an additional 65,623 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Down 2.8 %

Ultragenyx Pharmaceutical stock opened at $37.82 on Friday. The firm has a fifty day simple moving average of $41.64 and a two-hundred day simple moving average of $46.90. Ultragenyx Pharmaceutical Inc. has a twelve month low of $36.71 and a twelve month high of $60.37. The company has a market capitalization of $3.50 billion, a PE ratio of -5.97 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. As a group, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,370 shares of company stock worth $5,751,499. Insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

RARE has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wedbush restated a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock 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.