Ultragenyx Pharmaceutical Inc. $RARE Shares Acquired by 683 Capital Management LLC

683 Capital Management LLC grew its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 109.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,395 shares of the biopharmaceutical company’s stock after purchasing an additional 116,395 shares during the period. 683 Capital Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $5,115,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Guggenheim Capital LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 4.4% in the fourth quarter. Guggenheim Capital LLC now owns 49,137 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 2,061 shares during the period. PDT Partners LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 12.8% in the fourth quarter. PDT Partners LLC now owns 176,813 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 20,120 shares during the period. AQR Capital Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 82.3% in the fourth quarter. AQR Capital Management LLC now owns 1,360,497 shares of the biopharmaceutical company’s stock valued at $31,291,000 after purchasing an additional 614,315 shares during the period. Trexquant Investment LP increased its holdings in shares of Ultragenyx Pharmaceutical by 6.2% in the fourth quarter. Trexquant Investment LP now owns 165,017 shares of the biopharmaceutical company’s stock valued at $3,795,000 after purchasing an additional 9,629 shares during the period. Finally, Jump Financial LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 101.7% in the fourth quarter. Jump Financial LLC now owns 115,928 shares of the biopharmaceutical company’s stock worth $2,666,000 after buying an additional 58,460 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the sale, the director owned 27,951 shares of the company’s stock, valued at approximately $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,002 shares of company stock worth $575,039 over the last three months. 5.20% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $26.91 on Thursday. The business has a 50 day simple moving average of $24.17 and a two-hundred day simple moving average of $24.91. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37. The stock has a market capitalization of $2.65 billion, a P/E ratio of -4.40 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm had revenue of $136.00 million for the quarter, compared to analyst estimates of $158.19 million. During the same period in the previous year, the company earned ($1.57) EPS. Ultragenyx Pharmaceutical’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RARE. The Goldman Sachs Group downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $61.00 to $25.00 in a research note on Tuesday, March 24th. Barclays lowered their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Truist Financial upgraded Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Cantor Fitzgerald upped their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.56.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.