Connor Clark & Lunn Investment Management Ltd. Has $4.18 Million Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 53.8% in the third quarter, Holdings Channel reports. The fund owned 75,265 shares of the biopharmaceutical company’s stock after selling 87,626 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after buying an additional 26,575 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $17,468,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth $691,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth $714,000. 97.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, 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 sale, 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 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,556 shares of company stock worth $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RARE shares. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group lifted their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday. Canaccord Genuity Group reissued a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, TD Cowen upped their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Ultragenyx Pharmaceutical Stock Up 2.7 %

Ultragenyx Pharmaceutical stock opened at $47.24 on Friday. The company has a 50 day moving average of $53.14 and a 200-day moving average of $48.39. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The stock has a market capitalization of $4.36 billion, a PE ratio of -7.30 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.23) EPS. Equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current fiscal year.

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.