OP Asset Management Ltd Purchases Shares of 86,917 Ultragenyx Pharmaceutical Inc. $RARE

OP Asset Management Ltd purchased a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 86,917 shares of the biopharmaceutical company’s stock, valued at approximately $1,821,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank grew its position in shares of Ultragenyx Pharmaceutical by 56.2% during the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 393 shares in the last quarter. Xponance Inc. boosted its stake in Ultragenyx Pharmaceutical by 3.1% during the third quarter. Xponance Inc. now owns 13,494 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 406 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Ultragenyx Pharmaceutical by 2.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after buying an additional 534 shares during the last quarter. Van ECK Associates Corp grew its holdings in Ultragenyx Pharmaceutical by 26.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 549 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Ultragenyx Pharmaceutical by 4.7% during the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 564 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $30.77 on Monday. The company has a market cap of $3.03 billion, a PE ratio of -5.04 and a beta of 0.37. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $42.37. The stock’s 50 day simple moving average is $24.87 and its two-hundred day simple moving average is $24.59.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). The company had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.Ultragenyx Pharmaceutical’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.57) EPS. Equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RARE. Weiss Ratings cut Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Cantor Fitzgerald raised their target price on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Truist Financial raised shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company increased their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.56.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the transaction, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at $2,512,227.53. The trade was a 4.22% 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, EVP Karah Herdman Parschauer sold 1,899 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,002 shares of company stock valued at $575,039 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Company 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.