Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) by 39.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,713 shares of the biopharmaceutical company’s stock after buying an additional 103,512 shares during the quarter. Fred Alger Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $15,145,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RARE. Signaturefd LLC boosted its holdings in Ultragenyx Pharmaceutical by 151.0% in the third quarter. Signaturefd LLC now owns 600 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 361 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $27,000. High Net Worth Advisory Group LLC lifted its holdings in Ultragenyx Pharmaceutical by 650.0% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,300 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 36.6% during the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 240 shares during the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Ultragenyx Pharmaceutical by 28.5% during the 3rd quarter. Martingale Asset Management L P now owns 5,406 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RARE. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, January 18th. Credit Suisse Group reaffirmed an “outperform” rating and set a $96.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 17th. Morgan Stanley reduced their target price on Ultragenyx Pharmaceutical from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $82.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, December 30th. Finally, StockNews.com upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, February 23rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.47.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $40.56 on Wednesday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $33.36 and a 1 year high of $85.53. The stock has a market cap of $2.85 billion, a PE ratio of -4.01 and a beta of 0.94. The business’s fifty day moving average is $44.11 and its 200-day moving average is $42.19.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The biopharmaceutical company reported ($2.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.03) by ($0.13). Ultragenyx Pharmaceutical had a negative net margin of 194.71% and a negative return on equity of 110.15%. The firm had revenue of $103.35 million for the quarter, compared to analyst estimates of $105.11 million. During the same quarter last year, the business posted ($1.79) earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -7.62 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $45.25, for a total transaction of $175,615.25. Following the completion of the sale, the executive vice president now directly owns 46,720 shares of the company’s stock, valued at approximately $2,114,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $45.25, for a total transaction of $175,615.25. Following the completion of the sale, the executive vice president now directly owns 46,720 shares of the company’s stock, valued at approximately $2,114,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Theodore Alan Huizenga sold 639 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $43.40, for a total value of $27,732.60. Following the sale, the chief accounting officer now directly owns 15,558 shares of the company’s stock, valued at $675,217.20. The disclosure for this sale can be found here. Insiders sold a total of 6,940 shares of company stock valued at $310,388 in the last three months. 6.70% of the stock is currently owned by corporate insiders.

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.