Nordea Investment Management AB Has $1.66 Million Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Nordea Investment Management AB boosted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 39,673 shares of the biopharmaceutical company’s stock after purchasing an additional 3,246 shares during the period. Nordea Investment Management AB’s holdings in Ultragenyx Pharmaceutical were worth $1,658,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RARE. Rhumbline Advisers lifted its stake in Ultragenyx Pharmaceutical by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 96,710 shares of the biopharmaceutical company’s stock valued at $3,975,000 after purchasing an additional 5,047 shares during the last quarter. Arizona State Retirement System lifted its position in Ultragenyx Pharmaceutical by 2.1% during the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock worth $853,000 after acquiring an additional 434 shares during the last quarter. Headlands Technologies LLC lifted its position in Ultragenyx Pharmaceutical by 931.0% during the second quarter. Headlands Technologies LLC now owns 6,124 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 5,530 shares during the last quarter. BOKF NA lifted its position in Ultragenyx Pharmaceutical by 23.5% during the second quarter. BOKF NA now owns 8,316 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Ultragenyx Pharmaceutical by 8.7% during the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after acquiring an additional 168,345 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RARE has been the subject of several research reports. TD Cowen raised their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company raised 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, December 20th. HC Wainwright restated a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. Canaccord Genuity Group restated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $42.07 on Friday. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37. The company has a market cap of $3.88 billion, a P/E ratio of -6.50 and a beta of 0.58. The firm has a 50 day simple moving average of $46.09 and a two-hundred day simple moving average of $49.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same period in the previous year, the business earned ($2.23) earnings per share. The company’s revenue was up 42.3% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.