KLP Kapitalforvaltning AS Invests $686,000 in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

KLP Kapitalforvaltning AS acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,300 shares of the biopharmaceutical company’s stock, valued at approximately $686,000.

Several other hedge funds have also recently bought and sold shares of the company. Two Sigma Advisers LP increased its stake in shares of Ultragenyx Pharmaceutical by 123.4% in the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares during the period. Fisher Asset Management LLC bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth approximately $11,156,000. Frazier Life Sciences Management L.P. increased its position in Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after acquiring an additional 208,715 shares during the period. Ikarian Capital LLC acquired a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at approximately $9,943,000. Finally, Point72 Asset Management L.P. raised its stake in Ultragenyx Pharmaceutical by 35.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock valued at $36,311,000 after acquiring an additional 172,711 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Down 6.5 %

Shares of Ultragenyx Pharmaceutical stock opened at $33.84 on Wednesday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $33.69 and a 12-month high of $60.37. The firm has a market capitalization of $3.13 billion, a PE ratio of -5.34 and a beta of 0.67. The stock’s fifty day moving average is $41.41 and its 200-day moving average is $46.45.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The company had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on RARE shares. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. HC Wainwright restated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.79.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 25,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the sale, the chief executive officer now owns 2,158,985 shares in the company, valued at $91,713,682.80. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical 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.