KBC Group NV Increases Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

KBC Group NV increased its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 24.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,568 shares of the biopharmaceutical company’s stock after acquiring an additional 506 shares during the period. KBC Group NV’s holdings in Ultragenyx Pharmaceutical were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RARE. Millennium Management LLC lifted its position in Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after acquiring an additional 942,529 shares during the period. Avoro Capital Advisors LLC grew its position in Ultragenyx Pharmaceutical by 137.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock valued at $38,753,000 after buying an additional 480,000 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Ultragenyx Pharmaceutical by 63.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after buying an additional 323,280 shares during the last quarter. Finally, Artal Group S.A. acquired a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter worth $8,308,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $46.02 on Friday. The firm’s 50-day moving average is $53.60 and its two-hundred day moving average is $48.38. The company has a market capitalization of $4.25 billion, a PE ratio of -7.11 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RARE shares. The Goldman Sachs Group increased their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays decreased their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the 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 transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock worth $1,515,967 over the last three months. 5.80% of the stock is currently owned by corporate insiders.

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.