Thornburg Investment Management Inc. Makes New $2.08 Million Investment in Ultragenyx Pharmaceutical Inc. $RARE

Thornburg Investment Management Inc. acquired a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the third quarter, HoldingsChannel reports. The institutional investor acquired 69,248 shares of the biopharmaceutical company’s stock, valued at approximately $2,083,000.

A number of other large investors also recently modified their holdings of the company. Assetmark Inc. increased its stake in Ultragenyx Pharmaceutical by 1,706.7% in the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 1,024 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 205.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,169 shares during the last quarter. Covestor Ltd grew its holdings in shares of Ultragenyx Pharmaceutical by 26.0% in the third quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 369 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Ultragenyx Pharmaceutical in the second quarter worth $55,000. Finally, CWM LLC raised its stake in Ultragenyx Pharmaceutical by 1,171.2% during the second quarter. CWM LLC now owns 4,144 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 3,818 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 0.6%

NASDAQ RARE opened at $23.04 on Friday. The firm’s fifty day simple moving average is $24.50 and its two-hundred day simple moving average is $29.36. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.41 and a 12-month high of $43.54. The firm has a market capitalization of $2.23 billion, a P/E ratio of -3.95 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative net margin of 85.54% and a negative return on equity of 1,024.42%. The business had revenue of $207.28 million for the quarter, compared to analysts’ expectations of $199.60 million. During the same quarter in the prior year, the company posted ($1.39) EPS. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 3,061 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $23.56, for a total value of $72,117.16. Following the completion of the sale, the chief financial officer owned 88,935 shares of the company’s stock, valued at approximately $2,095,308.60. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 6,227 shares of company stock valued at $187,126 in the last three months. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

RARE has been the topic of a number of research reports. TD Cowen reduced their target price on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Robert W. Baird lowered their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, December 30th. Leerink Partners dropped their price objective on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 30th. Wells Fargo & Company reduced their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, December 30th. Finally, Bank of America lowered their target price on Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating for the company in a report on Friday, January 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.29.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.