Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Holdings Cut by AQR Capital Management LLC

AQR Capital Management LLC reduced its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 61.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,100 shares of the biopharmaceutical company’s stock after selling 154,097 shares during the period. AQR Capital Management LLC owned 0.11% of Ultragenyx Pharmaceutical worth $3,991,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after purchasing an additional 26,575 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Ultragenyx Pharmaceutical by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after acquiring an additional 120,175 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after acquiring an additional 17,362 shares during the last quarter. Federated Hermes Inc. grew its position in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after acquiring an additional 168,345 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Ultragenyx Pharmaceutical by 16.9% during the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock worth $46,570,000 after purchasing an additional 164,110 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $53.79 on Friday. The business’s 50-day simple moving average is $54.29 and its 200 day simple moving average is $46.96. Ultragenyx Pharmaceutical Inc. has a twelve month low of $31.52 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (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 analysts’ expectations of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the business posted ($2.25) earnings per share. As a group, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.24 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 40,091 shares of company stock valued at $2,125,513. Company insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Wedbush raised their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.43.

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.