Nuveen Asset Management LLC Decreases Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Nuveen Asset Management LLC lessened its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 388,661 shares of the biopharmaceutical company’s stock after selling 4,099 shares during the period. Nuveen Asset Management LLC owned 0.42% of Ultragenyx Pharmaceutical worth $16,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after acquiring an additional 89,389 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ultragenyx Pharmaceutical by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after purchasing an additional 25,487 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after acquiring an additional 81,667 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Ultragenyx Pharmaceutical by 23.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock worth $60,570,000 after buying an additional 269,733 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Ultragenyx Pharmaceutical by 125.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after buying an additional 653,088 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the transaction, the chief accounting officer now directly owns 50,265 shares of the company’s stock, valued at $2,116,156.50. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 over the last three months. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $35.66 on Monday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The company has a 50-day simple moving average of $36.05 and a 200 day simple moving average of $41.11. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -5.62 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The firm had revenue of $139.29 million for the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.03) earnings per share. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analyst Upgrades and Downgrades

RARE has been the subject of a number of research reports. Morgan Stanley boosted their price target on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Piper Sandler cut their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.93.

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.