Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 12.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 48,764 shares of the biopharmaceutical company’s stock after selling 6,721 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Ultragenyx Pharmaceutical worth $2,004,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC increased its holdings in Ultragenyx Pharmaceutical by 931.0% in the second quarter. Headlands Technologies LLC now owns 6,124 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 5,530 shares during the last quarter. Pier 88 Investment Partners LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 70.1% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 25,970 shares of the biopharmaceutical company’s stock valued at $1,067,000 after acquiring an additional 10,700 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Ultragenyx Pharmaceutical by 1.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 390,524 shares of the biopharmaceutical company’s stock valued at $16,051,000 after acquiring an additional 5,184 shares in the last quarter. Candriam S.C.A. lifted its stake in Ultragenyx Pharmaceutical by 33.1% during the second quarter. Candriam S.C.A. now owns 688,942 shares of the biopharmaceutical company’s stock worth $28,314,000 after purchasing an additional 171,345 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Ultragenyx Pharmaceutical by 2.1% in the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 434 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Ultragenyx Pharmaceutical stock opened at $58.75 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $60.37. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -7.32 and a beta of 0.56. The company’s 50-day moving average price is $52.03 and its two-hundred day moving average price is $46.49.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter last year, the business earned ($2.25) earnings per share. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RARE. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus lifted their target price on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 16th. The Goldman Sachs Group boosted their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.43.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 40,675 shares of company stock worth $2,149,446 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

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.