Bank of New York Mellon Corp Has $32.14 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of New York Mellon Corp decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 781,943 shares of the biopharmaceutical company’s stock after selling 129,713 shares during the period. Bank of New York Mellon Corp owned about 0.94% of Ultragenyx Pharmaceutical worth $32,138,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RARE. Russell Investments Group Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 9.1% during the fourth quarter. Russell Investments Group Ltd. now owns 200,615 shares of the biopharmaceutical company’s stock worth $9,593,000 after acquiring an additional 16,728 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 400 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ultragenyx Pharmaceutical by 44.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,565 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 3,259 shares during the period. Natixis Advisors L.P. raised its stake in shares of Ultragenyx Pharmaceutical by 10.8% during the fourth quarter. Natixis Advisors L.P. now owns 15,289 shares of the biopharmaceutical company’s stock worth $731,000 after buying an additional 1,496 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Ultragenyx Pharmaceutical by 10.0% in the fourth quarter. Amalgamated Bank now owns 15,716 shares of the biopharmaceutical company’s stock valued at $752,000 after acquiring an additional 1,427 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RARE. Cantor Fitzgerald lifted their price objective on Ultragenyx Pharmaceutical from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wedbush lifted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America decreased their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Stock Down 1.9 %

RARE opened at $55.71 on Wednesday. The company has a market cap of $4.63 billion, a P/E ratio of -6.94 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 52-week low of $31.52 and a 52-week high of $58.73. The firm’s 50-day moving average price is $47.96 and its 200-day moving average price is $45.83.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the previous year, the company posted ($2.25) EPS. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. On average, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.24 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the sale, the chief executive officer now owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now directly owns 7,248 shares in the company, valued at $297,892.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total value of $1,003,400.00. Following the sale, the chief executive officer now owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,127 shares of company stock worth $1,539,993. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical 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.