Legal & General Group Plc Takes Position in Ultragenyx Pharmaceutical Inc. $RARE

Legal & General Group Plc acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 586,520 shares of the biopharmaceutical company’s stock, valued at approximately $19,584,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $355,746,000. Assenagon Asset Management S.A. lifted its position in shares of Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after purchasing an additional 1,864,164 shares in the last quarter. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $29,004,000. Finally, Eagle Health Investments LP purchased a new position in Ultragenyx Pharmaceutical in the first quarter valued at $18,522,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RARE has been the subject of a number of recent analyst reports. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Monday, August 10th. Guggenheim lowered their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Royal Bank Of Canada boosted their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.44.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer directly owned 105,689 shares in the company, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,552 shares of company stock valued at $207,455. 5.20% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $25.61 on Friday. The company has a market capitalization of $2.52 billion, a P/E ratio of -4.39 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $39.89. The company’s fifty day moving average is $28.55 and its two-hundred day moving average is $25.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The business’s revenue was up 28.5% compared to the same quarter last year. As a group, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current year.

About Ultragenyx Pharmaceutical

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.