Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 696,161 shares of the biopharmaceutical company’s stock after selling 42,812 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Ultragenyx Pharmaceutical worth $25,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RARE. GF Fund Management CO. LTD. raised its holdings in shares of Ultragenyx Pharmaceutical by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,364 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 425 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 49.1% in the 1st quarter. WCM Investment Management LLC now owns 202,213 shares of the biopharmaceutical company’s stock worth $7,648,000 after purchasing an additional 66,604 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 169,467 shares of the biopharmaceutical company’s stock worth $6,136,000 after purchasing an additional 5,579 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 19.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,140 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Ultragenyx Pharmaceutical by 211.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 215,890 shares of the biopharmaceutical company’s stock worth $7,817,000 after purchasing an additional 146,617 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RARE has been the topic of several analyst reports. William Blair initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an “outperform” rating and a $65.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. 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 research report on Thursday, March 27th. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Guggenheim reissued a “buy” rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. One analyst has 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 a consensus rating of “Moderate Buy” and an average price target of $83.64.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $27.31 on Thursday. The firm has a market cap of $2.58 billion, a PE ratio of -4.64 and a beta of 0.26. The firm’s 50 day moving average price is $36.00 and its two-hundred day moving average price is $38.46. Ultragenyx Pharmaceutical Inc. has a twelve month low of $26.85 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The business had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 186.49% and a negative net margin of 93.04%. The business’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.03) earnings per share. Equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the transaction, the director owned 15,344 shares in the company, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 3,167 shares of company stock worth $118,824. 5.50% of the stock is currently owned by company insiders.

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.