Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 125.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,173,638 shares of the biopharmaceutical company’s stock after acquiring an additional 653,088 shares during the period. Pictet Asset Management Holding SA owned 1.27% of Ultragenyx Pharmaceutical worth $49,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RARE. Quest Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $119,000. Charles Schwab Investment Management Inc. lifted its holdings in Ultragenyx Pharmaceutical by 10.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 594,521 shares of the biopharmaceutical company’s stock worth $33,026,000 after buying an additional 56,905 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $1,773,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 0.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,756 shares of the biopharmaceutical company’s stock valued at $9,874,000 after acquiring an additional 947 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $194,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Down 2.8 %

RARE stock opened at $37.82 on Friday. The company has a market capitalization of $3.50 billion, a P/E ratio of -5.97 and a beta of 0.67. The company has a 50-day simple moving average of $41.64 and a 200 day simple moving average of $46.84. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $36.71 and a fifty-two week high of $60.37.

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

Wall Street Analyst Weigh In

A number of research firms have commented on RARE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Piper Sandler decreased 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. Wedbush reiterated a “neutral” rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.79.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,370 shares of company stock valued at $5,751,499. 5.80% 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.