Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Position Trimmed by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,090 shares of the biopharmaceutical company’s stock after selling 8,450 shares during the period. Pier 88 Investment Partners LLC’s holdings in Ultragenyx Pharmaceutical were worth $593,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RARE. Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $42,000. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth about $43,000. Van ECK Associates Corp lifted its stake in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 273 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at about $83,000. Institutional investors own 97.67% of the company’s stock.

Analyst Upgrades and Downgrades

RARE has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday. Wedbush reiterated a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 73,434 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the sale, the chief executive officer now owns 641,731 shares of the company’s stock, valued at $27,016,875.10. This trade represents a 10.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares of the company’s stock, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $37.82 on Monday. Ultragenyx Pharmaceutical Inc. has a one year low of $36.71 and a one year high of $60.37. The company’s fifty day moving average price is $41.64 and its two-hundred day moving average price is $46.77. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -5.97 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 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.