Swiss National Bank Acquires 13,300 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Swiss National Bank raised its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 159,152 shares of the biopharmaceutical company’s stock after acquiring an additional 13,300 shares during the quarter. Swiss National Bank’s holdings in Ultragenyx Pharmaceutical were worth $8,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after buying an additional 168,345 shares in the last quarter. Millennium Management LLC increased its holdings in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after buying an additional 942,529 shares during the last quarter. Marshall Wace LLP raised its position in Ultragenyx Pharmaceutical by 16.9% during the second quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock worth $46,570,000 after acquiring an additional 164,110 shares in the last quarter. Finally, First Light Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 21.8% in the second quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock valued at $39,585,000 after acquiring an additional 172,700 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 7.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,556 shares of company stock valued at $1,515,967. 5.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on RARE shares. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. HC Wainwright boosted their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.46.

Ultragenyx Pharmaceutical Trading Down 0.3 %

Shares of NASDAQ:RARE opened at $47.12 on Tuesday. The stock’s fifty day simple moving average is $53.14 and its two-hundred day simple moving average is $48.49. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The stock has a market cap of $4.35 billion, a PE ratio of -7.30 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.23) EPS. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current fiscal year.

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.