Russell Investments Group Ltd. bought a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 93,375 shares of the biopharmaceutical company's stock, valued at approximately $3,864,000. Russell Investments Group Ltd. owned 0.13% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $5,429,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $1,944,000. Bank of Nova Scotia acquired a new stake in Ultragenyx Pharmaceutical in the second quarter valued at approximately $2,282,000. Rhumbline Advisers lifted its stake in Ultragenyx Pharmaceutical by 7.3% in the second quarter. Rhumbline Advisers now owns 71,394 shares of the biopharmaceutical company's stock valued at $4,259,000 after acquiring an additional 4,840 shares during the last quarter. Finally, Tekla Capital Management LLC lifted its stake in Ultragenyx Pharmaceutical by 51.2% in the third quarter. Tekla Capital Management LLC now owns 67,065 shares of the biopharmaceutical company's stock valued at $2,777,000 after acquiring an additional 22,700 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 2,031 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $43.96, for a total transaction of $89,282.76. Following the sale, the chief accounting officer now owns 16,197 shares in the company, valued at $712,020.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.70% of the company's stock.
Ultragenyx Pharmaceutical Stock Down 3.4 %
Shares of RARE stock opened at $45.73 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $33.36 and a 1 year high of $85.53. The firm's fifty day simple moving average is $43.04 and its 200 day simple moving average is $43.60.
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($2.43) earnings per share for the quarter, missing analysts' consensus estimates of ($2.29) by ($0.14). Ultragenyx Pharmaceutical had a negative return on equity of 84.14% and a negative net margin of 197.47%. The business had revenue of $90.70 million for the quarter, compared to analyst estimates of $98.76 million. On average, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -8.84 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on RARE shares. Robert W. Baird upgraded shares of Ultragenyx Pharmaceutical from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $63.00 to $50.00 in a research note on Thursday, November 3rd. Wedbush reiterated a "neutral" rating on shares of Ultragenyx Pharmaceutical in a research note on Thursday, October 13th. StockNews.com upgraded shares of Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a research note on Monday, January 30th. The Goldman Sachs Group reduced their target price on shares of Ultragenyx Pharmaceutical from $74.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, November 4th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $90.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 18th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.69.
Ultragenyx Pharmaceutical Company Profile
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Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, engaged in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its products include Mepsevii and Crysvita. Mepsevii is an intravenous enzyme replacement therapy, which is used for the treatment of Mucopolysaccharidosis VII.
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