Voya Investment Management LLC Sells 89,772 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Voya Investment Management LLC lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 55.4% in the fourth quarter, HoldingsChannel reports. The fund owned 72,321 shares of the biopharmaceutical company’s stock after selling 89,772 shares during the period. Voya Investment Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $3,043,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after purchasing an additional 89,389 shares during the period. Invesco Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after buying an additional 25,487 shares during the period. Alliancebernstein L.P. raised its holdings in Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock valued at $68,487,000 after buying an additional 81,667 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Ultragenyx Pharmaceutical by 125.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after buying an additional 653,088 shares during the period. Finally, Marshall Wace LLP grew its holdings in Ultragenyx Pharmaceutical by 27.9% in the 4th quarter. Marshall Wace LLP now owns 1,051,573 shares of the biopharmaceutical company’s stock worth $44,240,000 after acquiring an additional 229,561 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Up 0.8 %

Shares of RARE opened at $39.30 on Friday. The stock has a market cap of $3.69 billion, a P/E ratio of -6.20 and a beta of 0.61. The business’s 50 day moving average price is $37.38 and its 200-day moving average price is $43.11. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler dropped their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. HC Wainwright reissued a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.79.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 14,439 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $607,881.90. Following the completion of the sale, the insider now owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. This trade represents a 11.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $3,091,571.40. Following the transaction, the chief executive officer now directly owns 641,731 shares in the company, valued at approximately $27,016,875.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,643 shares of company stock worth $5,256,268. 5.50% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Profile

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.