Duality Advisers LP Grows Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Duality Advisers LP increased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 45.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,371 shares of the biopharmaceutical company’s stock after buying an additional 12,333 shares during the quarter. Duality Advisers LP’s holdings in Ultragenyx Pharmaceutical were worth $1,883,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock worth $257,862,000 after buying an additional 214,666 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Ultragenyx Pharmaceutical by 0.4% in the third quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock valued at $185,233,000 after purchasing an additional 18,359 shares during the period. Federated Hermes Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 11.4% in the fourth quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company’s stock valued at $116,992,000 after purchasing an additional 250,000 shares during the period. Rock Springs Capital Management LP increased its holdings in shares of Ultragenyx Pharmaceutical by 6.7% in the third quarter. Rock Springs Capital Management LP now owns 1,476,441 shares of the biopharmaceutical company’s stock valued at $52,635,000 after purchasing an additional 92,172 shares during the period. Finally, FMR LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 23.4% in the third quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company’s stock valued at $36,641,000 after purchasing an additional 195,108 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Activity

In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares in the company, valued at $3,620,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares in the company, valued at $3,620,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock worth $1,645,983 over the last three months. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RARE has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Wedbush reaffirmed a “neutral” rating and set a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a report on Monday. They set an “outperform” rating and a $77.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.33.

Ultragenyx Pharmaceutical Trading Up 3.1 %

RARE opened at $43.69 on Tuesday. The business’s fifty day moving average is $48.01 and its two-hundred day moving average is $43.61. Ultragenyx Pharmaceutical Inc. has a one year low of $31.52 and a one year high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. During the same period in the previous year, the business earned ($2.16) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 23.3% compared to the same quarter last year. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.36 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical Company 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.