Principal Financial Group Inc. Has $3.19 Million Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Principal Financial Group Inc. cut its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,068 shares of the biopharmaceutical company’s stock after selling 1,887 shares during the quarter. Principal Financial Group Inc. owned 0.09% of Ultragenyx Pharmaceutical worth $3,189,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Ultragenyx Pharmaceutical by 76.2% in the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 323 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter worth $35,000. GF Fund Management CO. LTD. purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $82,000. Quarry LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $84,000. Finally, denkapparat Operations GmbH bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $207,000. 97.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RARE has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Wedbush reduced their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. raised their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Guggenheim reissued a “buy” rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. Finally, Morgan Stanley cut their price objective on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Ultragenyx Pharmaceutical Trading Up 0.4%

Shares of RARE stock opened at $27.41 on Friday. The business’s fifty day simple moving average is $35.83 and its 200-day simple moving average is $38.36. The company has a market cap of $2.59 billion, a PE ratio of -4.66 and a beta of 0.26. Ultragenyx Pharmaceutical Inc. has a 12-month low of $26.85 and a 12-month high of $60.37.

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

Insider Activity

In related news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director directly owned 15,344 shares of the company’s stock, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,167 shares of company stock worth $118,824. Corporate insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Company 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.