New York State Common Retirement Fund Decreases Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

New York State Common Retirement Fund reduced its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,571 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Ultragenyx Pharmaceutical worth $2,464,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RARE. Alkeon Capital Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Ultragenyx Pharmaceutical by 123.4% during the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of Ultragenyx Pharmaceutical by 49.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock worth $35,203,000 after purchasing an additional 208,715 shares during the last quarter. Ikarian Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth $9,943,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Ultragenyx Pharmaceutical by 35.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after purchasing an additional 172,711 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Wells Fargo & Company increased their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $93.50.

Ultragenyx Pharmaceutical Trading Up 2.3 %

Shares of NASDAQ RARE opened at $42.92 on Friday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The stock has a fifty day simple moving average of $42.91 and a 200-day simple moving average of $49.14. The stock has a market capitalization of $3.97 billion, a PE ratio of -6.77 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its 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). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current 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.