Man Group plc Takes $6.51 Million Position in Ultragenyx Pharmaceutical Inc. $RARE

Man Group plc purchased a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 195,110 shares of the biopharmaceutical company’s stock, valued at approximately $6,515,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jupiter Topco LLC purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at $1,220,000. Hsbc Holdings PLC bought a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $1,534,000. PDT Partners LLC purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $514,000. Legal & General Group Plc bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $19,584,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $12,736,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 2.5%

NASDAQ RARE opened at $25.61 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $18.29 and a 52 week high of $39.89. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -4.39 and a beta of 0.35. The company has a fifty day moving average of $28.55 and a two-hundred day moving average of $25.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The company had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.17) EPS. Equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,653 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the sale, the chief financial officer directly owned 105,689 shares in the company, valued at $2,512,227.53. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,552 shares of company stock worth $207,455 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on RARE shares. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 25th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Monday, August 10th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group upped their price target on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Guggenheim lowered their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.44.

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.