AXQ Capital LP Takes $971,000 Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

AXQ Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 23,077 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.

A number of other large investors have also bought and sold shares of the business. Magnetar Financial LLC bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $285,000. Teacher Retirement System of Texas lifted its holdings in Ultragenyx Pharmaceutical by 20.2% during the 4th quarter. Teacher Retirement System of Texas now owns 24,574 shares of the biopharmaceutical company’s stock worth $1,034,000 after buying an additional 4,130 shares in the last quarter. Privium Fund Management B.V. lifted its holdings in Ultragenyx Pharmaceutical by 6.5% during the 4th quarter. Privium Fund Management B.V. now owns 258,380 shares of the biopharmaceutical company’s stock worth $10,870,000 after buying an additional 15,868 shares in the last quarter. Xponance Inc. lifted its holdings in Ultragenyx Pharmaceutical by 8.3% during the 4th quarter. Xponance Inc. now owns 12,205 shares of the biopharmaceutical company’s stock worth $513,000 after buying an additional 940 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Ultragenyx Pharmaceutical by 2.5% during the 4th quarter. Swiss National Bank now owns 163,152 shares of the biopharmaceutical company’s stock worth $6,864,000 after buying an additional 4,000 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Trading Up 0.7 %

RARE stock opened at $39.18 on Friday. The stock has a 50-day moving average price of $41.88 and a two-hundred day moving average price of $47.50. The stock has a market cap of $3.62 billion, a PE ratio of -6.18 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced 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 net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on RARE. Wedbush reaffirmed a “neutral” rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. 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. Piper Sandler cut their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. HC Wainwright reissued a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.71.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the sale, the executive vice president now owns 54,991 shares of the company’s stock, valued at $2,358,014.08. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,370 shares of company stock worth $5,751,499. Insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Profile

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.