WCM Investment Management LLC Purchases 66,604 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

WCM Investment Management LLC increased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RAREFree Report) by 49.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,213 shares of the biopharmaceutical company’s stock after acquiring an additional 66,604 shares during the period. WCM Investment Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $7,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth $27,493,000. Dark Forest Capital Management LP bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $459,000. First Light Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company’s stock valued at $32,125,000 after buying an additional 8,505 shares in the last quarter. Stifel Financial Corp boosted its stake in Ultragenyx Pharmaceutical by 13.5% in the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company’s stock valued at $1,001,000 after buying an additional 2,835 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock valued at $60,570,000 after acquiring an additional 269,733 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RARE. JPMorgan Chase & Co. lifted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Piper Sandler lowered their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. William Blair initiated coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating and set a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Read Our Latest Report on Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Stock Up 8.8%

NASDAQ RARE opened at $39.46 on Thursday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -6.71 and a beta of 0.26. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The stock has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $39.12.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The company had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the company posted ($2.03) EPS. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the sale, the director directly owned 15,344 shares of the company’s stock, valued at approximately $573,712.16. This represents a 13.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 3,167 shares of company stock worth $118,824. Corporate insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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