Vanguard Group Inc. Sells 80,694 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Vanguard Group Inc. trimmed its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,132,728 shares of the biopharmaceutical company’s stock after selling 80,694 shares during the period. Vanguard Group Inc. owned about 10.51% of Ultragenyx Pharmaceutical worth $304,792,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd lifted its position in shares of Ultragenyx Pharmaceutical by 26.0% during the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 369 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Ultragenyx Pharmaceutical by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,773 shares of the biopharmaceutical company’s stock worth $828,000 after buying an additional 404 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 2.3% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,988 shares of the biopharmaceutical company’s stock valued at $690,000 after buying an additional 434 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ultragenyx Pharmaceutical by 7.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,783 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 441 shares during the last quarter. Finally, DNB Asset Management AS grew its position in Ultragenyx Pharmaceutical by 3.2% in the second quarter. DNB Asset Management AS now owns 14,720 shares of the biopharmaceutical company’s stock worth $535,000 after acquiring an additional 452 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 1.5%

RARE opened at $23.39 on Friday. The firm’s 50 day simple moving average is $24.29 and its two-hundred day simple moving average is $29.33. The company has a market capitalization of $2.26 billion, a PE ratio of -4.01 and a beta of 0.16. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.41 and a 1-year high of $43.22.

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

Analysts Set New Price Targets

RARE has been the topic of several recent research reports. Barclays reduced their price target on Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Leerink Partners lowered their price objective on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, December 30th. TD Cowen dropped their price target on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Jefferies Financial Group decreased their price target on shares of Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, December 30th. Finally, Robert W. Baird decreased 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 note on Tuesday, December 30th. Sixteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.29.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 3,061 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $23.56, for a total value of $72,117.16. Following the transaction, the chief financial officer directly owned 88,935 shares of the company’s stock, valued at approximately $2,095,308.60. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 6,227 shares of company stock worth $187,126. 5.50% of the stock is currently owned by company insiders.

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.