Sandia Investment Management LP Invests $308,000 in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Sandia Investment Management LP acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,500 shares of the biopharmaceutical company’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. increased its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the period. US Bancorp DE boosted its position in shares of Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 390 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Ultragenyx Pharmaceutical by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Ultragenyx Pharmaceutical by 8.7% during the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after acquiring an additional 486 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 1st quarter valued at about $28,000. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Shares of RARE stock opened at $57.48 on Wednesday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $31.52 and a 1 year high of $60.37. The firm’s 50 day moving average is $52.54 and its 200-day moving average is $46.52.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. During the same period in the prior year, the business earned ($2.25) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% on a year-over-year basis. Equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RARE has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wedbush lifted their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 16th. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Finally, Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.43.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the transaction, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 40,675 shares of company stock worth $2,149,446. Corporate insiders own 5.80% of the company’s stock.

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.