AXQ Capital LP Acquires Shares of 23,077 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

AXQ Capital LP purchased a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the fourth quarter, Holdings Channel reports. The firm purchased 23,077 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.

A number of other hedge funds also recently modified their holdings of RARE. Principal Financial Group Inc. grew its position in Ultragenyx Pharmaceutical by 740.0% in the third 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 last quarter. Atria Investments Inc bought a new position in Ultragenyx Pharmaceutical in the third quarter valued at about $269,000. Victory Capital Management Inc. grew its position in Ultragenyx Pharmaceutical by 8.8% in the third quarter. Victory Capital Management Inc. now owns 10,948 shares of the biopharmaceutical company’s stock valued at $608,000 after acquiring an additional 884 shares during the last quarter. KBC Group NV grew its holdings in shares of Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 506 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 290.0% during the third quarter. Natixis Advisors LLC now owns 52,562 shares of the biopharmaceutical company’s stock worth $2,920,000 after purchasing an additional 39,086 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on RARE. Piper Sandler dropped their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. HC Wainwright reaffirmed a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wedbush reaffirmed a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $91.71.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $39.18 on Friday. The company has a market capitalization of $3.62 billion, a PE ratio of -6.18 and a beta of 0.67. The business has a fifty day moving average price of $41.88 and a two-hundred day moving average price of $47.50. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37.

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

Insider Activity

In other news, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $495,231.21. Following the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at $92,229,686.55. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,370 shares of company stock valued at $5,751,499 in the last 90 days. Insiders own 5.80% of the company’s stock.

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.