ExodusPoint Capital Management LP Takes $3.66 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

ExodusPoint Capital Management LP bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 87,017 shares of the biopharmaceutical company’s stock, valued at approximately $3,661,000.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake 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 valued at $29,000 after acquiring an additional 493 shares during the last quarter. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter worth about $42,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $83,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $93,000. Finally, Van ECK Associates Corp raised its position in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.79.

Ultragenyx Pharmaceutical Stock Down 7.7 %

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

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,643 shares of company stock valued at $5,256,268 over the last three months. Corporate insiders own 5.80% of the company’s stock.

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.