Emerald Advisers LLC Has $31.65 Million Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Emerald Advisers LLC increased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 569,798 shares of the biopharmaceutical company’s stock after purchasing an additional 83,116 shares during the quarter. Ultragenyx Pharmaceutical accounts for approximately 1.2% of Emerald Advisers LLC’s investment portfolio, making the stock its 25th largest position. Emerald Advisers LLC’s holdings in Ultragenyx Pharmaceutical were worth $31,652,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Ultragenyx Pharmaceutical by 137.1% during the first quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock worth $38,753,000 after purchasing an additional 480,000 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 513.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after purchasing an additional 424,476 shares during the last quarter. Finally, Artal Group S.A. acquired a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth $8,308,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on RARE shares. Barclays decreased their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. TD Cowen increased their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.08.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE remained flat at $50.99 during mid-day trading on Friday. The company had a trading volume of 680,606 shares, compared to its average volume of 589,398. The firm’s 50-day moving average price is $55.70 and its 200-day moving average price is $47.94. Ultragenyx Pharmaceutical Inc. has a one year low of $34.06 and a one year high of $60.37. The stock has a market cap of $4.70 billion, a PE ratio of -6.98 and a beta of 0.58.

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, beating the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same period last year, the business earned ($2.25) EPS. The business’s revenue was up 35.7% on a year-over-year basis. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.29 earnings per share for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the transaction, the chief executive officer now directly owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,556 shares of company stock worth $2,519,367 over the last quarter. Insiders own 5.80% of the company’s stock.

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.