China Universal Asset Management Co. Ltd. Reduces Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

China Universal Asset Management Co. Ltd. lessened its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 38.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,766 shares of the biopharmaceutical company’s stock after selling 6,051 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RARE. Vanguard Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after acquiring an additional 26,575 shares during the period. RTW Investments LP grew its position in shares of Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock worth $329,340,000 after buying an additional 1,481,997 shares during the period. Sands Capital Management LLC lifted its position in Ultragenyx Pharmaceutical by 59.8% during the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after acquiring an additional 1,540,791 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Ultragenyx Pharmaceutical by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after acquiring an additional 120,175 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after purchasing an additional 17,362 shares during the period. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Trading Down 1.2 %

NASDAQ RARE traded down $0.65 on Tuesday, reaching $53.13. 117,800 shares of the stock were exchanged, compared to its average volume of 806,302. The firm has a market capitalization of $4.90 billion, a PE ratio of -6.70 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a one year low of $31.52 and a one year high of $54.56. The company’s 50-day simple moving average is $44.31 and its two-hundred day simple moving average is $44.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the previous year, the company earned ($2.25) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 35.7% on a year-over-year basis. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Barclays reduced their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Wedbush lifted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 9,806 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the sale, the executive vice president now owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total value of $1,003,400.00. Following the sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The disclosure for this sale can be found here. Insiders sold a total of 32,127 shares of company stock valued at $1,539,993 over the last 90 days. Company insiders own 5.80% of the company’s stock.

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.