Rhenman & Partners Asset Management AB Has $3.59 Million Stock Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Rhenman & Partners Asset Management AB lifted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 28.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,400 shares of the biopharmaceutical company’s stock after acquiring an additional 26,300 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.12% of Ultragenyx Pharmaceutical worth $3,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical in the second quarter valued at approximately $35,765,000. GW&K Investment Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 139.0% during the 3rd quarter. GW&K Investment Management LLC now owns 1,150,169 shares of the biopharmaceutical company’s stock valued at $34,597,000 after purchasing an additional 668,881 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $19,106,000. Aberdeen Group plc boosted its holdings in Ultragenyx Pharmaceutical by 94.3% in the third quarter. Aberdeen Group plc now owns 973,656 shares of the biopharmaceutical company’s stock worth $29,288,000 after purchasing an additional 472,600 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its position in Ultragenyx Pharmaceutical by 49.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 983,715 shares of the biopharmaceutical company’s stock worth $35,768,000 after buying an additional 325,000 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Leerink Partners reduced their price target on Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday, December 30th. Canaccord Genuity Group lowered their price objective on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company cut their price objective on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 30th. Robert W. Baird reduced their target price on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, December 30th. Finally, Jefferies Financial Group decreased their target price on Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, December 30th. Sixteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.29.

Ultragenyx Pharmaceutical Trading Down 1.0%

RARE opened at $21.25 on Friday. The business has a 50 day moving average of $23.04 and a 200-day moving average of $29.08. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -3.64 and a beta of 0.16. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.41 and a 1-year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.09). The company had revenue of $207.28 million for the quarter, compared to the consensus estimate of $199.60 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The company’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.39) EPS. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 8,409 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.70, for a total transaction of $190,884.30. Following the sale, the chief financial officer directly owned 86,669 shares of the company’s stock, valued at $1,967,386.30. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Richard Pinion sold 10,029 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $228,661.20. Following the completion of the transaction, the insider directly owned 110,026 shares of the company’s stock, valued at approximately $2,508,592.80. This trade represents a 8.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 108,039 shares of company stock worth $2,506,945. Insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical 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.