Connor Clark & Lunn Investment Management Ltd. Lowers Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 64.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,016 shares of the biopharmaceutical company’s stock after selling 48,249 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RARE. Smartleaf Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 493 shares during the period. Human Investing LLC purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $42,000. True Wealth Design LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $43,000. Van ECK Associates Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $83,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now owns 54,991 shares of the company’s stock, valued at $2,358,014.08. The trade was a 5.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the sale, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,370 shares of company stock valued at $5,751,499. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 2.0 %

NASDAQ:RARE opened at $38.89 on Friday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The company has a market cap of $3.60 billion, a PE ratio of -6.13 and a beta of 0.67. The company has a 50 day simple moving average of $41.94 and a two-hundred day simple moving average of $47.62.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RARE shares. HC Wainwright reiterated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Wedbush reiterated a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $91.71.

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.