Bayesian Capital Management LP Purchases New Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bayesian Capital Management LP purchased a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,302 shares of the biopharmaceutical company’s stock, valued at approximately $714,000.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at about $28,000. UMB Bank n.a. raised its holdings in Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 329 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 865 shares during the last quarter. Van ECK Associates Corp raised its holdings in Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 400 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Ultragenyx Pharmaceutical by 3,182.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock valued at $80,000 after acquiring an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

RARE stock traded down $0.48 during mid-day trading on Tuesday, reaching $44.76. The company had a trading volume of 388,012 shares, compared to its average volume of 805,121. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $54.56. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -5.63 and a beta of 0.56. The firm has a fifty day simple moving average of $41.55 and a 200 day simple moving average of $44.45.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The firm had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. During the same quarter last year, the firm earned ($2.33) EPS. The company’s revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RARE. Robert W. Baird increased their price target on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $115.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Monday, July 22nd. TD Cowen increased their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush reissued a “neutral” rating and issued a $45.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group raised shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $67.00 in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

Insiders Place Their Bets

In other news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total value of $441,270.00. Following the completion of the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the transaction, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.10, for a total value of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. Insiders sold 12,127 shares of company stock worth $536,593 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

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.