Nuveen Asset Management LLC Increases Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Nuveen Asset Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 204,157 shares of the biopharmaceutical company’s stock after purchasing an additional 3,874 shares during the quarter. Nuveen Asset Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $8,454,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RARE. State Street Corp grew its stake in Ultragenyx Pharmaceutical by 26.1% in the second quarter. State Street Corp now owns 2,457,308 shares of the biopharmaceutical company’s stock worth $146,603,000 after purchasing an additional 508,624 shares in the last quarter. Wellington Management Group LLP grew its stake in Ultragenyx Pharmaceutical by 17.1% in the first quarter. Wellington Management Group LLP now owns 3,370,245 shares of the biopharmaceutical company’s stock worth $244,747,000 after purchasing an additional 492,842 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Ultragenyx Pharmaceutical by 1,727.0% in the third quarter. Assenagon Asset Management S.A. now owns 189,094 shares of the biopharmaceutical company’s stock worth $7,830,000 after purchasing an additional 178,744 shares in the last quarter. International Biotechnology Trust PLC grew its stake in Ultragenyx Pharmaceutical by 1,711.2% in the third quarter. International Biotechnology Trust PLC now owns 174,052 shares of the biopharmaceutical company’s stock worth $7,197,000 after purchasing an additional 164,442 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Ultragenyx Pharmaceutical by 478.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,421 shares of the biopharmaceutical company’s stock worth $7,803,000 after purchasing an additional 155,840 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RARE has been the subject of a number of research reports. Robert W. Baird lifted their price target on Ultragenyx Pharmaceutical from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 17th. Morgan Stanley decreased their target price on Ultragenyx Pharmaceutical from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. HC Wainwright restated a “buy” rating and issued a $82.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, December 30th. StockNews.com upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Thursday, February 23rd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $96.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 17th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.47.

Insider Buying and Selling

In related news, CAO Theodore Alan Huizenga sold 2,031 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $43.96, for a total transaction of $89,282.76. Following the sale, the chief accounting officer now owns 16,197 shares of the company’s stock, valued at $712,020.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ultragenyx Pharmaceutical news, EVP Camille L. Bedrosian sold 3,881 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $45.25, for a total value of $175,615.25. Following the transaction, the executive vice president now owns 46,720 shares of the company’s stock, valued at $2,114,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Theodore Alan Huizenga sold 2,031 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $43.96, for a total value of $89,282.76. Following the completion of the transaction, the chief accounting officer now directly owns 16,197 shares in the company, valued at approximately $712,020.12. The disclosure for this sale can be found here. Insiders have sold a total of 6,940 shares of company stock valued at $310,388 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $38.76 on Friday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $33.36 and a 12 month high of $85.53. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -3.83 and a beta of 0.94. The stock’s 50 day moving average price is $44.32 and its 200 day moving average price is $42.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last announced its earnings results on Thursday, February 16th. The biopharmaceutical company reported ($2.16) EPS for the quarter, missing the consensus estimate of ($2.03) by ($0.13). Ultragenyx Pharmaceutical had a negative return on equity of 110.15% and a negative net margin of 194.71%. The firm had revenue of $103.35 million for the quarter, compared to the consensus estimate of $105.11 million. During the same period in the previous year, the firm earned ($1.79) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -7.62 EPS for the current year.

Ultragenyx Pharmaceutical Company Profile

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Ultragenyx Pharmaceutical, Inc engages in the identification, acquisition, development, and commercialization of novel products for the treatment of genetic diseases. Its products include Crysvita, Mepsevii, Dojolvi, and Evkeeza. The company was founded by Emil D. Kakkis in April 2010, and is headquartered in Novato, CA.