HRT Financial LP Makes New $1.41 Million Investment in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Posted by Defense World Staff on May 30th, 2023

HRT Financial LP acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,484 shares of the biopharmaceutical company’s stock, valued at approximately $1,412,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RARE. Signaturefd LLC grew its stake in Ultragenyx Pharmaceutical by 151.0% in the 3rd quarter. Signaturefd LLC now owns 600 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 361 shares during the period. Lazard Asset Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 36.6% during the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 240 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Ultragenyx Pharmaceutical by 26.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,264 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 469 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at about $217,000. Finally, Martingale Asset Management L P boosted its holdings in Ultragenyx Pharmaceutical by 28.5% in the 3rd quarter. Martingale Asset Management L P now owns 5,406 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 1,200 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RARE shares. Robert W. Baird raised their target price on Ultragenyx Pharmaceutical from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Credit Suisse Group reaffirmed an “outperform” rating and set a $96.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 17th. Cantor Fitzgerald assumed coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, April 26th. They set an “overweight” rating and a $114.00 target price for the company. Morgan Stanley decreased their price target on shares of Ultragenyx Pharmaceutical from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Finally, 1-800-FLOWERS.COM restated a “maintains” rating on shares of Ultragenyx Pharmaceutical in a research report on Monday, May 8th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.25.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $49.83 on Tuesday. The firm has a 50 day moving average price of $43.20 and a 200 day moving average price of $42.63. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $33.36 and a fifty-two week high of $68.68. The company has a market capitalization of $3.53 billion, a PE ratio of -4.86 and a beta of 0.94.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.97) by ($0.36). Ultragenyx Pharmaceutical had a negative net margin of 187.31% and a negative return on equity of 149.75%. The firm had revenue of $100.50 million during the quarter, compared to analyst estimates of $103.90 million. During the same period in the previous year, the firm posted ($2.19) earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -8.35 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total value of $175,615.25. Following the completion of the transaction, the executive vice president now owns 46,720 shares of the company’s stock, valued at approximately $2,114,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 2,012 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $100,600.00. Following the completion of the transaction, the insider now owns 74,744 shares in the company, valued at approximately $3,737,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total transaction of $175,615.25. Following the completion of the sale, the executive vice president now owns 46,720 shares in the company, valued at $2,114,080. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,660 shares of company stock valued at $490,983. 6.70% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Profile

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Ultragenyx Pharmaceutical, Inc engages in the identification, acquisition, development, and commercialization of novel products for the treatment of genetic diseases. Its products include Crysvita, Mepsevii, Dojolvi, and Evkeeza. The company was founded by Emil D. Kakkis in April 2010, and is headquartered in Novato, CA.