Barclays PLC Sells 157,367 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Barclays PLC lessened its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 66.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,546 shares of the biopharmaceutical company’s stock after selling 157,367 shares during the quarter. Barclays PLC owned approximately 0.09% of Ultragenyx Pharmaceutical worth $4,419,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RARE. Millennium Management LLC raised its position in Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Two Sigma Advisers LP increased its position in Ultragenyx Pharmaceutical by 123.4% during the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Ultragenyx Pharmaceutical by 63.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after purchasing an additional 323,280 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Up 1.7 %

Shares of RARE stock opened at $44.22 on Friday. The firm has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $49.30. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The firm has a market capitalization of $4.08 billion, a PE ratio of -6.83 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.23) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday. HC Wainwright increased their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.46.

Insider Activity

In other news, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the transaction, the chief executive officer now owns 2,195,712 shares in the company, valued at approximately $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.