M&T Bank Corp Sells 403 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

M&T Bank Corp lowered its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,040 shares of the biopharmaceutical company’s stock after selling 403 shares during the quarter. M&T Bank Corp’s holdings in Ultragenyx Pharmaceutical were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 acquiring an additional 323 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $35,000. GF Fund Management CO. LTD. acquired a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $82,000. Quarry LP acquired a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $84,000. Finally, denkapparat Operations GmbH purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth about $207,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Guggenheim restated a “buy” rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Wedbush reduced their price objective on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, July 14th. Morgan Stanley reduced their price objective on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Finally, William Blair assumed coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They issued an “outperform” rating and a $65.00 price objective for the company. 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.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $83.64.

Insider Activity at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the completion of the sale, the director directly owned 15,344 shares in the company, valued at $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,167 shares of company stock valued at $118,824 in the last three months. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Trading Down 4.0%

Shares of RARE stock opened at $26.31 on Friday. The stock has a 50 day moving average of $35.65 and a 200 day moving average of $38.25. The stock has a market cap of $2.49 billion, a P/E ratio of -4.47 and a beta of 0.26. Ultragenyx Pharmaceutical Inc. has a twelve month low of $26.00 and a twelve month high of $60.37.

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

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.