Wells Fargo & Company MN Has $1.28 Million Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wells Fargo & Company MN decreased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,371 shares of the biopharmaceutical company’s stock after selling 2,886 shares during the quarter. Wells Fargo & Company MN’s holdings in Ultragenyx Pharmaceutical were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RARE. Norges Bank acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at about $40,463,000. Pictet Asset Management Holding SA raised its position in shares of Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after purchasing an additional 653,088 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $11,156,000. Prudential Financial Inc. raised its position in shares of Ultragenyx Pharmaceutical by 659.5% during the fourth quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company’s stock worth $11,483,000 after purchasing an additional 237,003 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Ultragenyx Pharmaceutical by 95.2% during the fourth quarter. Franklin Resources Inc. now owns 427,359 shares of the biopharmaceutical company’s stock worth $17,979,000 after purchasing an additional 208,456 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RARE. Wedbush reaffirmed a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler dropped their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. lifted their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.79.

Insider Buying and Selling

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 73,434 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the completion of the transaction, the chief executive officer now directly owns 641,731 shares in the company, valued at $27,016,875.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,643 shares of company stock valued at $5,256,268. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Stock Down 0.3 %

RARE stock opened at $37.98 on Tuesday. The business has a 50 day moving average price of $37.79 and a two-hundred day moving average price of $43.54. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -5.99 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

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.