Massachusetts Financial Services Co. MA Grows Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Massachusetts Financial Services Co. MA raised its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 46.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 542,373 shares of the biopharmaceutical company’s stock after buying an additional 172,126 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ultragenyx Pharmaceutical were worth $30,129,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. UMB Bank n.a. grew its position in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 352 shares during the period. Arizona State Retirement System grew its position in shares of Ultragenyx Pharmaceutical by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares during the period. KBC Group NV grew its position in shares of Ultragenyx Pharmaceutical by 24.5% during the 3rd quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 506 shares during the period. Amalgamated Bank grew its position in shares of Ultragenyx Pharmaceutical by 13.4% during the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 696 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $47.12 on Tuesday. The stock has a 50 day moving average of $53.14 and a 200 day moving average of $48.49. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million during 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 company’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.23) EPS. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical 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 sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock valued at $1,515,967 over the last quarter. 5.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RARE. Canaccord Genuity Group restated a “buy” rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. HC Wainwright lifted their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Wedbush lifted their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two 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, the company has an average rating of “Moderate Buy” and a consensus price target of $87.46.

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.