Envestnet Asset Management Inc. Has $1.44 Million Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Envestnet Asset Management Inc. cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,288 shares of the biopharmaceutical company’s stock after selling 2,836 shares during the period. Envestnet Asset Management Inc.’s holdings in Ultragenyx Pharmaceutical were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in RARE. Smartleaf Asset Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 493 shares in the last quarter. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $42,000. Van ECK Associates Corp boosted its position in Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $83,000. Finally, R Squared Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $103,000. Institutional investors own 97.67% of the company’s stock.

Analysts Set New Price Targets

RARE has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Piper Sandler decreased their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.79.

Ultragenyx Pharmaceutical Trading Up 0.2 %

Shares of NASDAQ RARE opened at $38.07 on Wednesday. The firm has a market cap of $3.57 billion, a P/E ratio of -6.00 and a beta of 0.61. The business’s 50 day moving average is $37.66 and its 200-day moving average is $43.42. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37.

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). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock worth $5,256,268 in the last quarter. Corporate insiders own 5.50% 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.