Federated Hermes Inc. Buys 250,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Federated Hermes Inc. raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,446,500 shares of the biopharmaceutical company’s stock after acquiring an additional 250,000 shares during the quarter. Federated Hermes Inc.’s holdings in Ultragenyx Pharmaceutical were worth $116,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 329 shares during the last quarter. Covestor Ltd raised its holdings in Ultragenyx Pharmaceutical by 392.1% in the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 596 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 36.6% in the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 240 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Ultragenyx Pharmaceutical by 3,182.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 1,623 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Ultragenyx Pharmaceutical by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 903 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded up $0.11 during trading hours on Thursday, hitting $44.22. 197,544 shares of the company were exchanged, compared to its average volume of 758,023. The firm has a market cap of $3.64 billion, a P/E ratio of -5.30 and a beta of 0.65. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The company has a 50 day simple moving average of $48.14 and a two-hundred day simple moving average of $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. The company had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted ($2.16) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.36 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 3,756 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Karah Herdman Parschauer sold 3,756 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. Insiders sold a total of 31,974 shares of company stock valued at $1,639,721 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RARE has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Robert W. Baird raised their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Wedbush reiterated a “neutral” rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.55.

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.