Bank of America Corp DE Has $16.34 Million Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of America Corp DE decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 58.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 388,502 shares of the biopharmaceutical company’s stock after selling 537,408 shares during the period. Bank of America Corp DE owned about 0.42% of Ultragenyx Pharmaceutical worth $16,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC increased its position in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $35,000. Human Investing LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $42,000. Van ECK Associates Corp raised its position in Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 273 shares during the last quarter. Finally, Quarry LP bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth approximately $84,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $90.93.

Insiders Place Their Bets

In related news, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the sale, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Richard Pinion sold 14,439 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the completion of the sale, the insider now directly owns 107,766 shares in the company, valued at $4,536,948.60. This represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,405 shares of company stock valued at $5,285,169. Insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $37.35 on Wednesday. The stock’s 50 day simple moving average is $36.27 and its 200 day simple moving average is $41.50. The company has a market cap of $3.53 billion, a P/E ratio of -5.89 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. During the same quarter in the prior year, the company earned ($2.03) EPS. The company’s revenue was up 28.0% on a year-over-year basis. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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.