16,810 Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,810 shares of the biopharmaceutical company’s stock, valued at approximately $707,000.

A number of other hedge funds also recently added to or reduced their stakes in RARE. Algert Global LLC lifted its position in Ultragenyx Pharmaceutical by 46.9% in the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after purchasing an additional 23,580 shares during the last quarter. Bamco Inc. NY bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $2,666,000. Principal Financial Group Inc. increased its position in Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after acquiring an additional 76,150 shares during the period. Cerity Partners LLC acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth $1,773,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 294 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Up 0.7 %

RARE opened at $39.18 on Friday. 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 $3.62 billion, a P/E ratio of -6.18 and a beta of 0.67. The stock has a fifty day moving average of $41.88 and a 200-day moving average of $47.45.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now directly owns 50,265 shares of the company’s stock, valued at $2,116,156.50. This represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the sale, the executive vice president now owns 54,991 shares of the company’s stock, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,370 shares of company stock valued at $5,751,499. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Piper Sandler cut their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.71.

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.