Swiss National Bank Grows Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Swiss National Bank raised its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,152 shares of the biopharmaceutical company’s stock after buying an additional 13,300 shares during the period. Swiss National Bank owned approximately 0.17% of Ultragenyx Pharmaceutical worth $8,841,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Ultragenyx Pharmaceutical by 3.5% in 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 purchasing an additional 120,175 shares in the last quarter. Federated Hermes Inc. boosted its position in Ultragenyx Pharmaceutical by 8.7% during the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after acquiring an additional 168,345 shares during the last quarter. Millennium Management LLC grew its stake in Ultragenyx Pharmaceutical by 103.8% in 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. Marshall Wace LLP raised its holdings in Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after acquiring an additional 164,110 shares during the last quarter. Finally, First Light Asset Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 21.8% during the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock worth $39,585,000 after purchasing an additional 172,700 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RARE. TD Cowen upped their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Wedbush lifted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Finally, Barclays lowered their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $87.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $47.12 on Tuesday. The stock’s 50 day simple moving average is $53.14 and its 200 day simple moving average is $48.49. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -7.30 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly 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. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the prior year, the company earned ($2.23) earnings per share. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was 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 directly owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is currently owned by company 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.