Norges Bank Takes Position in Ultragenyx Pharmaceutical Inc. $RARE

Norges Bank acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,261,026 shares of the biopharmaceutical company’s stock, valued at approximately $29,004,000.

A number of other large investors have also recently made changes to their positions in RARE. Huntington National Bank boosted its stake in shares of Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 393 shares in the last quarter. Xponance Inc. raised its holdings in Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Xponance Inc. now owns 13,494 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 406 shares during the last quarter. Arizona State Retirement System raised its holdings in Ultragenyx Pharmaceutical by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 25,176 shares of the biopharmaceutical company’s stock valued at $757,000 after acquiring an additional 533 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Ultragenyx Pharmaceutical by 2.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 534 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Ultragenyx Pharmaceutical by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 549 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $22.79 on Wednesday. The firm has a market cap of $2.24 billion, a PE ratio of -3.73 and a beta of 0.37. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $42.37. The firm’s fifty day moving average is $23.79 and its two-hundred day moving average is $25.27.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RARE. Truist Financial raised shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley raised their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. The Goldman Sachs Group cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and decreased their price target for the company from $61.00 to $25.00 in a research report on Tuesday, March 24th. Canaccord Genuity Group reduced their price objective on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, HC Wainwright reduced their price objective on shares of Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $59.56.

Insider Activity

In related news, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shehnaaz Suliman sold 5,740 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.12, for a total transaction of $144,188.80. Following the sale, the director directly owned 27,951 shares in the company, valued at approximately $702,129.12. This represents a 17.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,103 shares of company stock worth $478,186. Insiders own 5.20% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.