Rhenman & Partners Asset Management AB Purchases 26,300 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Rhenman & Partners Asset Management AB boosted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 28.2% during the third quarter, Holdings Channel reports. The institutional investor 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’s holdings in Ultragenyx Pharmaceutical were worth $3,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of RARE. Norges Bank acquired a new position in Ultragenyx Pharmaceutical in the second quarter worth about $35,765,000. Hsbc Holdings PLC grew its stake in shares of Ultragenyx Pharmaceutical by 88.6% in the 2nd quarter. Hsbc Holdings PLC now owns 97,197 shares of the biopharmaceutical company’s stock valued at $3,554,000 after purchasing an additional 45,665 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Ultragenyx Pharmaceutical by 108.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 67,720 shares of the biopharmaceutical company’s stock worth $2,462,000 after buying an additional 35,185 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Ultragenyx Pharmaceutical by 49.3% during the 2nd 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 period. Finally, Schroder Investment Management Group boosted its stake in Ultragenyx Pharmaceutical by 27.2% in the 2nd quarter. Schroder Investment Management Group now owns 336,173 shares of the biopharmaceutical company’s stock valued at $12,223,000 after buying an additional 71,888 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Activity

In related news, CFO Howard Horn sold 8,409 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.70, for a total value of $190,884.30. Following the transaction, the chief financial officer owned 86,669 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Richard Pinion sold 10,029 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $228,661.20. Following the completion of the sale, the insider owned 110,026 shares of the company’s stock, valued at approximately $2,508,592.80. The trade was a 8.35% decrease in their ownership of the stock. 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. 5.50% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 1.0%

Shares of NASDAQ RARE opened at $21.25 on Friday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.41 and a 1-year high of $42.37. The company has a 50-day moving average of $23.04 and a two-hundred day moving average of $29.08. The company has a market cap of $2.05 billion, a PE ratio of -3.64 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate 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 net margin of 85.54% and a negative return on equity of 1,024.42%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the company earned ($1.39) earnings per share. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RARE shares. Robert W. Baird lowered their price target on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. HC Wainwright reduced their target price on shares of Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Bank of America dropped their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, January 2nd. Finally, Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, February 17th. Sixteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.29.

About Ultragenyx Pharmaceutical

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.