Trexquant Investment LP Sells 10,611 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Trexquant Investment LP reduced its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 156,656 shares of the biopharmaceutical company’s stock after selling 10,611 shares during the quarter. Trexquant Investment LP’s holdings in Ultragenyx Pharmaceutical were worth $6,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after purchasing an additional 76,150 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 294 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Ultragenyx Pharmaceutical by 193.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,151 shares of the biopharmaceutical company’s stock valued at $1,064,000 after buying an additional 12,617 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after acquiring an additional 65,623 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Ultragenyx Pharmaceutical by 35.9% in the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after acquiring an additional 172,711 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RARE. JPMorgan Chase & Co. boosted their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Wedbush reissued a “neutral” rating and set a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Wells Fargo & Company raised their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler lowered their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $32.43 on Friday. The stock has a 50 day moving average price of $40.83 and a 200 day moving average price of $46.10. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.12 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 52-week low of $32.07 and a 52-week high of $60.37.

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

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the transaction, the chief executive officer now owns 2,158,985 shares in the company, valued at approximately $91,713,682.80. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,643 shares of company stock valued at $5,256,268. 5.80% of the stock is currently owned by corporate insiders.

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.