Frazier Life Sciences Management L.P. Acquires 208,715 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Frazier Life Sciences Management L.P. increased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 49.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 633,715 shares of the biopharmaceutical company’s stock after purchasing an additional 208,715 shares during the period. Ultragenyx Pharmaceutical accounts for approximately 1.4% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 21st biggest holding. Frazier Life Sciences Management L.P.’s holdings in Ultragenyx Pharmaceutical were worth $35,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alkeon Capital Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the last quarter. Federated Hermes Inc. boosted its holdings 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 valued at $86,599,000 after acquiring an additional 168,345 shares during the last quarter. Millennium Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after acquiring an additional 942,529 shares during the last quarter. Baker BROS. Advisors LP increased its position in Ultragenyx Pharmaceutical by 7.5% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after purchasing an additional 109,567 shares during the period. Finally, Marshall Wace LLP raised its holdings in 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 currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, 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 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Shares of RARE stock opened at $49.32 on Tuesday. The firm has a fifty day simple moving average of $51.05 and a two-hundred day simple moving average of $49.00. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The firm has a market capitalization of $4.55 billion, a PE ratio of -7.62 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.23) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. HC Wainwright raised their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.46.

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.