Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,955 shares of the biopharmaceutical company’s stock after acquiring an additional 3,515 shares during the period. Principal Financial Group Inc. owned about 0.10% of Ultragenyx Pharmaceutical worth $3,784,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Alkeon Capital Management LLC grew its holdings in 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 acquiring an additional 769,884 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Ultragenyx Pharmaceutical by 123.4% in 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 in the last quarter. Frazier Life Sciences Management L.P. increased 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 acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth $9,943,000. Finally, Point72 Asset Management L.P. increased 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. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 0.4 %

Shares of RARE stock opened at $41.10 on Wednesday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37. The company has a market capitalization of $3.80 billion, a P/E ratio of -6.48 and a beta of 0.60. The firm has a 50-day moving average price of $42.86 and a 200 day moving average price of $49.03.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Wedbush restated a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,858 shares of company stock worth $6,093,035 in the last quarter. 5.80% of the stock is owned by company insiders.

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.