Maryland State Retirement & Pension System Makes New Investment in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Maryland State Retirement & Pension System acquired a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RAREFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,111 shares of the biopharmaceutical company’s stock, valued at approximately $292,000.

A number of other hedge funds have also made changes to their positions in RARE. Charles Schwab Investment Management Inc. increased its holdings in Ultragenyx Pharmaceutical by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock valued at $14,143,000 after purchasing an additional 19,487 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock worth $2,745,000 after acquiring an additional 17,000 shares in the last quarter. New York State Common Retirement Fund lifted its position in Ultragenyx Pharmaceutical by 37.0% during the 4th quarter. New York State Common Retirement Fund now owns 72,866 shares of the biopharmaceutical company’s stock worth $3,484,000 after acquiring an additional 19,673 shares in the last quarter. CHI Advisors LLC boosted its holdings in Ultragenyx Pharmaceutical by 152.9% in the 3rd quarter. CHI Advisors LLC now owns 215,000 shares of the biopharmaceutical company’s stock worth $7,665,000 after acquiring an additional 130,000 shares during the period. Finally, Vanguard Group Inc. grew its position in Ultragenyx Pharmaceutical by 3.1% in the third quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after acquiring an additional 214,666 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the transaction, the director now owns 14,860 shares in the company, valued at $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on RARE shares. JPMorgan Chase & Co. boosted their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Robert W. Baird boosted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. TD Cowen upped their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, May 3rd. Finally, Wedbush reduced their price target on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.85.

Get Our Latest Stock Analysis on RARE

Ultragenyx Pharmaceutical Trading Down 0.8 %

Shares of RARE opened at $40.90 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $54.98. The stock has a 50 day moving average of $46.18 and a 200-day moving average of $44.46.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (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 the consensus estimate of $116.03 million. During the same quarter last year, the business earned ($2.33) earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.49 earnings per share for the current fiscal year.

About Ultragenyx Pharmaceutical

(Free Report)

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.

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Institutional Ownership by Quarter for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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