Pier 88 Investment Partners LLC Has $1.25 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pier 88 Investment Partners LLC decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,540 shares of the biopharmaceutical company’s stock after selling 3,430 shares during the period. Pier 88 Investment Partners LLC’s holdings in Ultragenyx Pharmaceutical were worth $1,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares during the period. Avoro Capital Advisors LLC increased its stake in Ultragenyx Pharmaceutical by 137.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock worth $38,753,000 after acquiring an additional 480,000 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Ultragenyx Pharmaceutical by 513.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after acquiring an additional 424,476 shares during the period. Finally, Artal Group S.A. bought a new stake in shares of Ultragenyx Pharmaceutical during the 1st quarter valued at $8,308,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Up 1.8 %

RARE opened at $48.71 on Thursday. The company has a 50 day moving average of $54.64 and a 200 day moving average of $48.30. Ultragenyx Pharmaceutical Inc. has a 12 month low of $36.51 and a 12 month high of $60.37. The company has a market cap of $4.50 billion, a PE ratio of -7.53 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same quarter last year, the company earned ($2.23) EPS. The firm’s revenue was up 42.3% compared to the same quarter last year. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 in the last three months. Company insiders own 5.80% of the company’s stock.

Wall Street Analyst Weigh In

RARE has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Barclays decreased their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Company 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.