ULTRAGENYX PHARMACEUTICAL IN RARE
COM · Common Stock · CUSIP 90400D108 · ISIN US90400D1081
Biopharmaceutical company based in Novato, California, United States
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersNovato, CA
- Websiteultragenyx.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($8.7m this quarter). Holder counts are more reliable. Shares outstanding: 96.6m as of 2026-02-13, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $23.01. Options: 28 managers hold calls ($75.9m notional), 15 hold puts ($47.6m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 233 |
| Q4 2022 | 228 |
| Q1 2023 | 230 |
| Q2 2023 | 243 |
| Q3 2023 | 222 |
| Q4 2023 | 238 |
| Q1 2024 | 271 |
| Q2 2024 | 275 |
| Q3 2024 | 303 |
| Q4 2024 | 316 |
| Q1 2025 | 304 |
| Q2 2025 | 313 |
| Q3 2025 | 304 |
| Q4 2025 | 289 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 150 | 96 |
| Q2 2024 | 161 | 120 |
| Q3 2024 | 163 | 120 |
| Q4 2024 | 149 | 151 |
| Q1 2025 | 155 | 148 |
| Q2 2025 | 167 | 151 |
| Q3 2025 | 181 | 145 |
| Q4 2025 | 153 | 155 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $43.9m | $42.2m | 0.96 |
| Q2 2025 | $148.5m | $87.7m | 0.59 |
| Q3 2025 | $88.8m | $34.0m | 0.38 |
| Q4 2025 | $75.9m | $47.6m | 0.63 |
Biggest buyers
| CITADEL ADVISORS LLC | Added | +2.0m |
| MORGAN STANLEY | Added | +916.1k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Added | +896.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +781.4k |
| JANE STREET GROUP, LLC | Added | +667.3k |
| AQR CAPITAL MANAGEMENT LLC | Added | +614.3k |
| STATE STREET CORP | Added | +610.6k |
| BANK OF AMERICA CORP /DE/ | Added | +558.9k |
| Balyasny Asset Management L.P. | New | +520.1k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +516.8k |
Biggest sellers
| FMR LLC | Reduced | -4.6m |
| JPMORGAN CHASE & CO | Reduced | -4.0m |
| Frazier Life Sciences Management, L.P. | Sold out | -983.7k |
| DEUTSCHE BANK AG\ | Reduced | -946.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -755.8k |
| Vestal Point Capital, LP | Sold out | -750.0k |
| Eagle Health Investments LP | Sold out | -697.0k |
| Driehaus Capital Management LLC | Sold out | -603.4k |
| BRAIDWELL LP | Sold out | -588.7k |
| Invesco Ltd. | Reduced | -564.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $11.4m497.1k shares |
| MOORE CAPITAL MANAGEMENT, LP | New | $9.3m403.3k shares |
| SPHERA FUNDS MANAGEMENT LTD. | New | $8.1m350.0k shares |
| Ikarian Capital, LLC | New | $5.8m250.0k shares |
| Caption Management, LLC | Reduced | $5.7m249.6k shares |
| BARCLAYS PLC | Unchanged | $4.6m200.0k shares |
| Balyasny Asset Management L.P. | Reduced | $4.2m182.1k shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | Reduced | $2.5m110.0k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $2.5m108.7k shares |
| Stonepine Capital Management, LLC | New | $2.3m100.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $14.5m631.3k shares |
| Caption Management, LLC | Added | $9.3m404.7k shares |
| CITADEL ADVISORS LLC | Added | $6.9m298.0k shares |
| Ikarian Capital, LLC | Added | $5.9m255.1k shares |
| JPMORGAN CHASE & CO | Added | $2.1m90.8k shares |
| LMR Partners LLP | Added | $1.9m83.8k shares |
| JANE STREET GROUP, LLC | Reduced | $1.9m82.9k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | $1.6m67.5k shares |
| GROUP ONE TRADING LLC | Added | $1.1m49.6k shares |
| TORONTO DOMINION BANK | New | $862.5k37.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +3.2 pts · filed 2026-07-30 | 8.3% |
| RTW INVESTMENTS, LP 13G · institution new · filed 2026-08-14 | 7.9% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution +1.5 pts · filed 2026-07-31 | 7.0% |
| AQR CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-08-13 | 6.7% |
| Madison Avenue Partners, LP 13G · passive investor new · filed 2026-10-20 | 6.4% |
| STATE STREET CORP 13G · institution +1.2 pts · filed 2026-08-07 | 6.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), FMR LLC (3.5%, 2026-02-05)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 8 | $3.4m | $620.4k |
| Q2 2024 | 0 | — | 3 | $534.4k | $512.7k |
| Q3 2024 | 0 | — | 3 | $2.1m | $2.1m |
| Q4 2024 | 0 | — | 2 | $1.3m | $908.9k |
| Q1 2025 | 0 | — | 8 | $6.8m | $4.2m |
| Q2 2025 | 0 | — | 2 | $118.8k | $89.9k |
| Q3 2025 | 0 | — | 2 | $80.9k | — |
| Q4 2025 | 0 | — | 2 | $365.3k | $112.1k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-12-29 | Huizenga Theodore Alan SVP, Chief Accounting Officer | Sold | $2.9k85 shares |
| 2025-12-10 | Horn Howard Chief Financial Officer | Sold plan | $112.1k3.1k shares |
| 2025-10-13 | Horn Howard Chief Financial Officer | Sold | $250.3k7.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 10.3m $236.1m | Added +131.1k |
| BlackRock, Inc. 0.00% of their portfolio | 6.6m $152.5m | Added +206.3k |
| STATE STREET CORP 0.00% of their portfolio | 4.3m $99.0m | Added +610.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 4.0m $91.4m | Reduced -4.0m |
| SANDS CAPITAL MANAGEMENT, LLC 0.24% of their portfolio | 3.5m $80.2m | Reduced -284.1k |
| RTW INVESTMENTS, LP 0.69% of their portfolio | 3.0m $69.0m | Reduced -258.1k |
| BAKER BROS. ADVISORS LP 0.37% of their portfolio | 2.8m $63.8m | Unchanged |
| FMR LLC 0.00% of their portfolio | 2.7m $61.3m | Reduced -4.6m |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 2.5m $56.6m | Added +516.8k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 2.3m $53.5m | Added +2.0m |
| MONTANOVA CAPITAL, LLC 1.16% of their portfolio | 2.0m $46.4m | Unchanged |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.48% of their portfolio | 2.0m $45.2m | Added +896.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% of their portfolio | 1.9m $43.7m | Added +354.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.8m $42.3m | Added +257.7k |
| MORGAN STANLEY 0.00% of their portfolio | 1.8m $42.0m | Added +916.1k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.16% of their portfolio | 1.7m $40.2m | Reduced -418.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.6m $35.8m | Reduced -755.8k |
| Aberdeen Group plc 0.05% of their portfolio | 1.5m $33.8m | Added +496.3k |
| GW&K Investment Management, LLC 0.27% of their portfolio | 1.4m $31.6m | Added +225.2k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 1.4m $31.3m | Added +614.3k |
| Rock Springs Capital Management LP 1.50% of their portfolio | 1.3m $29.1m | Added +20.9k |
| NORGES BANK 0.00% of their portfolio | 1.3m $29.0m | Not comparable |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 1.2m $26.6m | Reduced -226.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.2m $27.9m | Added +558.9k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 1.0m $23.5m | Added +667.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 903.0k $20.8m | Added +330.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 880.6k $20.3m | Added +781.4k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 840.8k $19.3m | Added +369 |
| Nuveen, LLC 0.00% of their portfolio | 801.5k $18.4m | Added +119.3k |
| Candriam S.C.A. 0.09% of their portfolio | 799.4k $18.4m | Added +44.7k |
| Schonfeld Strategic Advisors LLC 0.09% of their portfolio | 741.6k $17.1m | Reduced -403.0k |
| UBS Group AG 0.00% of their portfolio | 668.8k $15.4m | Added +121.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.05% of their portfolio | 643.4k $14.8m | Added +160.8k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 599.5k $13.8m | Reduced -946.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 598.9k $13.8m | Reduced -1.2k |
| Polar Capital Holdings Plc 0.06% of their portfolio | 556.6k $12.8m | Reduced -27.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 526.7k $12.1m | Added +27.5k |
| Balyasny Asset Management L.P. 0.02% of their portfolio | 520.1k $12.0m | New |
| HRT FINANCIAL LP 0.05% of their portfolio | 501.7k $11.5m | New |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 481.6k $11.1m | Reduced -36.1k |
| Jefferies Financial Group Inc. 0.09% of their portfolio | 477.1k $11.0m | New |
| Palo Alto Investors LP 1.48% of their portfolio | 461.3k $10.6m | Added +91.8k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 424.0k $9.8m | Added +97.9k |
| FRED ALGER MANAGEMENT, LLC 0.04% of their portfolio | 411.9k $9.5m | Reduced -36.9k |
| Legal & General Group Plc 0.00% of their portfolio | 411.3k $9.5m | Added +8.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 400.4k $9.2m | Reduced -76.6k |
| Squarepoint Ops LLC 0.02% of their portfolio | 390.6k $9.0m | Added +256.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 366.1k $8.4m | Added +344.2k |
| BARCLAYS PLC 0.00% of their portfolio | 359.1k $8.3m | Reduced -66.2k |
| Privium Fund Management B.V. 1.51% of their portfolio | 357.5k $8.2m | Added +67.7k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.03% of their portfolio | 348.4k $8.0m | Added +327.5k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 344.8k $7.9m | Added +107.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 331.2k $7.6m | Reduced -13.8k |
| GordonMD Global Investments LP 5.43% of their portfolio | 329.1k $7.6m | First filing |
| Eversept Partners, LP 0.41% of their portfolio | 317.2k $7.3m | New |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 310.1k $7.1m | Reduced -191.1k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 309.1k $7.1m | Reduced -368.1k |
| SPHERA FUNDS MANAGEMENT LTD. 1.44% of their portfolio | 300.6k $6.9m | Reduced -51.9k |
| GREAT POINT PARTNERS LLC 2.24% of their portfolio | 300.0k $6.9m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 298.7k $6.9m | Reduced -26.1k |
| Motley Fool Wealth Management, LLC 0.53% of their portfolio | 297.5k $6.8m | Reduced -58.1k |
| Newtyn Management, LLC 0.72% of their portfolio | 295.9k $6.8m | New |
| Verition Fund Management LLC 0.04% of their portfolio | 282.4k $6.5m | Added +258.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 280.0k $6.4m | Reduced -150.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 276.9k $6.4m | Added +138.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 263.9k $6.1m | Added +184.9k |
| Ensign Peak Advisors, Inc 0.01% of their portfolio | 250.6k $5.8m | Added +73.2k |
| Invesco Ltd. 0.00% of their portfolio | 230.3k $5.3m | Reduced -564.6k |
| 683 Capital Management, LLC 0.43% of their portfolio | 222.4k $5.1m | Added +116.4k |
| Caption Management, LLC 0.22% of their portfolio | 219.5k $5.0m | Added +55.0k |
| ALGERT GLOBAL LLC 0.08% of their portfolio | 219.2k $5.0m | Reduced -102.4k |
| Blue Owl Capital Holdings LP 1.51% of their portfolio | 212.6k $4.9m | Reduced -209.8k |
| EMERALD ADVISERS, LLC 0.15% of their portfolio | 212.4k $4.9m | Reduced -206.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 204.1k $4.7m | Reduced -2.9k |
| MOORE CAPITAL MANAGEMENT, LP 0.09% of their portfolio | 200.0k $4.6m | Reduced -70.0k |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 199.7k $4.6m | Reduced -52.9k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 198.7k $4.6m | Added +30.6k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 182.8k $4.2m | First filing |
| PDT Partners, LLC 0.26% of their portfolio | 176.8k $4.1m | Added +20.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio | 175.6k $4.0m | Added +25.1k |
| Woodline Partners LP 0.02% of their portfolio | 171.8k $4.0m | Reduced -101.4k |
| Swiss National Bank 0.00% of their portfolio | 171.1k $3.9m | Added +6.1k |
| Trexquant Investment LP 0.03% of their portfolio | 165.0k $3.8m | Added +9.6k |
| WCM INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 163.3k $3.7m | Reduced -124.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 163.2k $3.8m | Reduced -73.1k |
| Catalio Capital Management, LP 0.66% of their portfolio | 162.6k $3.7m | Reduced -128.7k |
| Rafferty Asset Management, LLC 0.01% of their portfolio | 157.1k $3.6m | Added +577 |
| SEI INVESTMENTS CO 0.00% of their portfolio | 153.7k $3.5m | Reduced -36.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 152.3k $3.5m | Reduced -81.8k |
| CAPITAL FUND MANAGEMENT S.A. 0.03% of their portfolio | 150.2k $3.5m | Reduced -26.9k |
| Krensavage Asset Management, LLC 1.22% of their portfolio | 149.6k $3.4m | New |
| SR One Capital Management, LP 0.45% of their portfolio | 137.8k $3.2m | New |
| ExodusPoint Capital Management, LP 0.04% of their portfolio | 137.4k $3.2m | Added +30.8k |
| B Group, Inc. 2.30% of their portfolio | 135.0k $3.1m | Unchanged |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 134.5k $4.7m | Reduced -60.5k |
| Caitong International Asset Management Co., Ltd 0.69% of their portfolio | 122.9k $2.8m | Added +122.8k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.14% of their portfolio | 120.5k $2.8m | Reduced -122.3k |
| XTX Topco Ltd 0.07% of their portfolio | 120.0k $2.8m | Added +105.6k |
| COMERICA BANK 0.01% of their portfolio | 118.4k $2.7m | Added +34.7k |
| Jump Financial, LLC 0.03% of their portfolio | 115.9k $2.7m | Added +58.5k |