Capstone Investment Advisors LLC Acquires New Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Capstone Investment Advisors LLC purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,089 shares of the biopharmaceutical company’s stock, valued at approximately $727,000.

Other institutional investors have also made changes to their positions in the company. Alkeon Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after buying an additional 168,345 shares during the period. Millennium Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after buying an additional 942,529 shares during the period. Marshall Wace LLP grew its stake in Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after buying an additional 164,110 shares during the last quarter. Finally, First Light Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 21.8% in the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock worth $39,585,000 after acquiring an additional 172,700 shares during the period. 97.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 over the last three months. 5.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RARE. HC Wainwright raised their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Wedbush upped their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Ultragenyx Pharmaceutical Stock Up 1.6 %

NASDAQ RARE opened at $48.13 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of -7.44 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The company’s 50-day simple moving average is $52.26 and its 200 day simple moving average is $48.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.23) EPS. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.

About Ultragenyx Pharmaceutical

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.