Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Position Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 145,433 shares of the biopharmaceutical company’s stock after acquiring an additional 3,259 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ultragenyx Pharmaceutical were worth $8,079,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RARE. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after acquiring an additional 26,575 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Ultragenyx Pharmaceutical by 0.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the 2nd 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. Finally, Millennium Management LLC increased its holdings in Ultragenyx Pharmaceutical by 103.8% in 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. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $53.07 on Tuesday. The firm’s 50-day moving average is $56.04 and its 200-day moving average is $47.74. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -6.60 and a beta of 0.57. Ultragenyx Pharmaceutical Inc. has a 52-week low of $32.77 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.64) by $0.12. The firm had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.25) earnings per share. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TD Cowen increased their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Thursday, September 26th. Wedbush raised their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays lowered their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.08.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical 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 sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,556 shares of company stock worth $2,519,367. Company insiders own 5.80% of the company’s stock.

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.