US Bancorp DE Lowers Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

US Bancorp DE decreased its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 41.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,149 shares of the biopharmaceutical company’s stock after selling 2,916 shares during the quarter. US Bancorp DE’s holdings in Ultragenyx Pharmaceutical were worth $230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. raised its position in Ultragenyx Pharmaceutical by 58.1% in the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the period. Arizona State Retirement System raised its holdings in shares of Ultragenyx Pharmaceutical by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 434 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 8.7% during the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after purchasing an additional 486 shares in the last quarter. Headlands Technologies LLC purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at approximately $28,000. Finally, Sei Investments Co. raised its stake in Ultragenyx Pharmaceutical by 0.9% in the first quarter. Sei Investments Co. now owns 65,996 shares of the biopharmaceutical company’s stock worth $3,081,000 after buying an additional 616 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Trading Up 1.8 %

RARE stock opened at $48.71 on Thursday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $36.51 and a 12-month high of $60.37. The business’s 50-day moving average is $54.64 and its 200 day moving average is $48.30. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -7.53 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter in the prior year, the company earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue was up 42.3% compared to the same quarter last year. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 over the last quarter. 5.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RARE shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. TD Cowen raised their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.69.

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.