Mirae Asset Global Investments Co. Ltd. Buys 557 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Mirae Asset Global Investments Co. Ltd. raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,652 shares of the biopharmaceutical company’s stock after buying an additional 557 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Ultragenyx Pharmaceutical by 28.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock worth $116,559,000 after acquiring an additional 706,519 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Ultragenyx Pharmaceutical by 81.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after buying an additional 965,919 shares during the period. Federated Hermes Inc. increased its position in shares of Ultragenyx Pharmaceutical by 0.3% during the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company’s stock worth $74,419,000 after buying an additional 5,400 shares during the period. Deutsche Bank AG increased its position in shares of Ultragenyx Pharmaceutical by 0.5% during the first quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock worth $61,611,000 after buying an additional 8,385 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Ultragenyx Pharmaceutical by 3.9% during the first quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company’s stock valued at $54,147,000 after acquiring an additional 55,611 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 2,450 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $31.17, for a total value of $76,366.50. Following the transaction, the executive vice president owned 73,271 shares in the company, valued at $2,283,857.07. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Trading Down 0.7%

RARE opened at $31.45 on Friday. The company’s fifty day moving average price is $29.75 and its two-hundred day moving average price is $33.02. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -5.69 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a 1-year low of $25.81 and a 1-year high of $57.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.10. The company had revenue of $166.50 million during the quarter, compared to the consensus estimate of $161.37 million. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.52) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on RARE shares. Morgan Stanley cut their price target on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, July 14th. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, July 14th. Canaccord Genuity Group lowered their target price on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a “buy” rating for the company in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $81.50.

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.