ADAR1 Capital Management LLC Invests $337,000 in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

ADAR1 Capital Management LLC bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,000 shares of the biopharmaceutical company’s stock, valued at approximately $337,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter worth $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at $42,000. Van ECK Associates Corp increased its stake in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 273 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. HC Wainwright reissued a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Piper Sandler lowered their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, Wedbush reiterated a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at approximately $2,358,014.08. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. This trade represents a 1.65 % 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. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 7.7 %

Shares of RARE opened at $32.43 on Monday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -5.12 and a beta of 0.61. The stock has a 50 day moving average of $40.83 and a 200-day moving average of $45.93. Ultragenyx Pharmaceutical Inc. has a 52 week low of $32.07 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released 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 business had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. On average, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical Company 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.