Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Acquired by First Light Asset Management LLC

First Light Asset Management LLC grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 963,146 shares of the biopharmaceutical company’s stock after acquiring an additional 172,700 shares during the quarter. Ultragenyx Pharmaceutical comprises approximately 3.5% of First Light Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. First Light Asset Management LLC owned about 1.04% of Ultragenyx Pharmaceutical worth $39,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RARE. Headlands Technologies LLC purchased a new stake in Ultragenyx Pharmaceutical in the first quarter valued at approximately $28,000. nVerses Capital LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $33,000. UMB Bank n.a. raised its stake in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 865 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 67.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 1,339 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $57.56 on Tuesday. The company’s 50-day moving average is $52.29 and its two-hundred day moving average is $46.47. Ultragenyx Pharmaceutical Inc. has a 1-year low of $31.52 and a 1-year high of $60.37. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of -7.17 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.12. The company had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.25) earnings per share. As a group, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wedbush boosted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Stifel Nicolaus raised their target price on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company increased their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.43.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 40,675 shares of company stock valued at $2,149,446. Company insiders own 5.80% of the company’s stock.

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.