UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 55,822 Shares of Ultragenyx Pharmaceutical Inc. $RARE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 25.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,226 shares of the biopharmaceutical company’s stock after selling 55,822 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ultragenyx Pharmaceutical were worth $5,584,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $355,746,000. State Street Corp lifted its holdings in Ultragenyx Pharmaceutical by 16.5% in the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after buying an additional 610,559 shares during the period. Wellington Management Group LLP grew its position in shares of Ultragenyx Pharmaceutical by 26.6% in the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock worth $56,624,000 after buying an additional 516,781 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after buying an additional 1,864,164 shares during the period. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $14.88 on Wednesday. The firm has a market cap of $1.47 billion, a PE ratio of -2.55 and a beta of 0.31. The stock has a 50-day moving average price of $27.09 and a 200-day moving average price of $24.93. Ultragenyx Pharmaceutical Inc. has a 1 year low of $13.81 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. During the same period last year, the business earned ($1.17) EPS. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.98 EPS for the current year.

Insider Buying and Selling

In related news, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the sale, the executive vice president owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corsee Sanders sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,060 shares of company stock worth $99,106. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RARE. HC Wainwright decreased their target price on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Canaccord Genuity Group cut their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Wedbush reduced their price objective on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. Guggenheim decreased their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, TD Cowen dropped their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Ultragenyx Pharmaceutical Company Profile

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.