Renaissance Technologies LLC Buys 195,600 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Renaissance Technologies LLC raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 53.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 561,700 shares of the biopharmaceutical company’s stock after acquiring an additional 195,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Ultragenyx Pharmaceutical were worth $11,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in Ultragenyx Pharmaceutical by 2.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock worth $817,000 after purchasing an additional 534 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 549 shares in the last quarter. Tidal Investments LLC grew its position in Ultragenyx Pharmaceutical by 4.7% in the second quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 564 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 0.4% during the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock valued at $3,612,000 after purchasing an additional 577 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 751 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value 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. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the sale, the director owned 27,951 shares in the company, valued at $702,129.12. This trade represents a 17.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,636 shares of company stock valued at $360,230 in the last ninety days. 5.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RARE. Wedbush dropped their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Barclays cut their price target on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.41.

Ultragenyx Pharmaceutical Trading Down 4.3%

Ultragenyx Pharmaceutical stock opened at $24.91 on Friday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -4.08 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $39.89. The business’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $24.74.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The firm 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%.The company’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted ($1.57) EPS. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical 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.