Fifth Third Bancorp Acquires New Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Fifth Third Bancorp bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 110,272 shares of the biopharmaceutical company’s stock, valued at approximately $2,310,000. Fifth Third Bancorp owned about 0.11% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RARE. Leonteq Securities AG increased its position in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,333 shares during the last quarter. Danske Bank A S acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $39,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $56,000. Smartleaf Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 751 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Up 0.3%

NASDAQ:RARE opened at $28.62 on Wednesday. The company has a fifty day simple moving average of $27.36 and a two-hundred day simple moving average of $24.57. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -4.68 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a 52 week low of $18.29 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. During the same quarter in the previous year, the business posted ($1.57) earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. The Goldman Sachs Group downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $61.00 to $25.00 in a report on Tuesday, March 24th. Guggenheim cut their price objective on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.41.

Insider Buying and Selling

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director owned 21,095 shares in the company, valued at $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,319 shares of company stock worth $476,837. 5.20% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.