Allspring Global Investments Holdings LLC Buys 548 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Allspring Global Investments Holdings LLC grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 38.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,979 shares of the biopharmaceutical company’s stock after buying an additional 548 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ultragenyx Pharmaceutical were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its stake in Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock worth $2,745,000 after acquiring an additional 17,000 shares during the period. International Assets Investment Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 3,182.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,623 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 418.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,501 shares of the biopharmaceutical company’s stock valued at $454,000 after purchasing an additional 7,670 shares during the period. UMB Bank n.a. lifted its stake in shares of Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 329 shares in the last quarter. Finally, Woodstock Corp purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $385,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $44.02 on Tuesday. The stock has a market capitalization of $3.62 billion, a PE ratio of -5.28 and a beta of 0.65. The company’s fifty day moving average is $47.70 and its 200 day moving average is $43.99. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The firm had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. During the same period in the previous year, the firm posted ($2.16) EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.38 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares in the company, valued at approximately $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now directly owns 14,860 shares in the company, valued at $756,076.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RARE shares. Robert W. Baird raised their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Finally, Wedbush reiterated a “neutral” rating and set a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Ultragenyx Pharmaceutical Company 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.