State of New Jersey Common Pension Fund D Buys 11,745 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

State of New Jersey Common Pension Fund D increased its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 33.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,514 shares of the biopharmaceutical company’s stock after purchasing an additional 11,745 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Ultragenyx Pharmaceutical worth $1,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Algert Global LLC grew its position in shares of Ultragenyx Pharmaceutical by 46.9% during the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after buying an additional 23,580 shares during the period. Bamco Inc. NY bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $2,666,000. Principal Financial Group Inc. grew its holdings 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 during the period. Cerity Partners LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $1,773,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Ultragenyx Pharmaceutical by 1.4% in 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 in the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total transaction of $413,650.00. Following the transaction, the chief executive officer now directly owns 2,195,712 shares in the company, valued at approximately $109,785,600. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

RARE has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Piper Sandler raised their price target on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 22nd. Finally, Wedbush reissued a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Stock Down 1.8 %

Shares of RARE stock opened at $41.84 on Tuesday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The company’s fifty day simple moving average is $43.07 and its 200-day simple moving average is $49.36. The firm has a market cap of $3.87 billion, a PE ratio of -6.60 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The business had revenue of $164.88 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

About Ultragenyx Pharmaceutical

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.