Quarry LP Invests $84,000 in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Quarry LP acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the biopharmaceutical company’s stock, valued at approximately $84,000.

A number of other institutional investors have also recently added to or reduced their stakes in RARE. Smartleaf Asset Management LLC increased its holdings in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at approximately $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $42,000. Van ECK Associates Corp boosted its position 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 worth $74,000 after purchasing an additional 273 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Ultragenyx Pharmaceutical in the third quarter valued at $83,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 2.4 %

Ultragenyx Pharmaceutical stock opened at $38.98 on Thursday. The stock has a fifty day moving average price of $37.54 and a 200 day moving average price of $43.38. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The firm has a market capitalization of $3.66 billion, a P/E ratio of -6.15 and a beta of 0.61.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RARE shares. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wedbush reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the sale, the executive vice president now directly owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. This represents a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the sale, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,643 shares of company stock worth $5,256,268. 5.50% of the stock is currently owned by company insiders.

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.