Zurcher Kantonalbank Zurich Cantonalbank Buys 5,104 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 28.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,874 shares of the biopharmaceutical company’s stock after purchasing an additional 5,104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ultragenyx Pharmaceutical were worth $962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RARE. Smartleaf Asset Management LLC lifted its position in Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 493 shares during the period. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at $42,000. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $43,000. Van ECK Associates Corp lifted its position in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 273 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $83,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $38.89 on Friday. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37. The stock has a 50-day moving average of $41.94 and a 200 day moving average of $47.62. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -6.13 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 6,028 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the transaction, the executive vice president now directly owns 265,238 shares in the company, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares of the company’s stock, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,370 shares of company stock worth $5,751,499 in the last three months. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RARE shares. Canaccord Genuity Group raised their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Piper Sandler lowered their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.71.

Ultragenyx Pharmaceutical 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.