Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 28.7% in the 3rd quarter, Holdings Channel reports. The fund owned 34,769 shares of the biopharmaceutical company’s stock after selling 13,995 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ultragenyx Pharmaceutical were worth $1,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after buying an additional 26,575 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares during the last quarter. Federated Hermes Inc. lifted its stake in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after buying an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,556 shares of company stock worth $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 6.1 %

NASDAQ:RARE opened at $44.75 on Monday. The stock’s 50 day moving average price is $54.25 and its two-hundred day moving average price is $48.34. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -6.92 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business’s revenue was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.23) earnings per share. As a group, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RARE shares. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen raised their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. HC Wainwright lifted their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

About Ultragenyx Pharmaceutical

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.