State Street Corp Decreases Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

State Street Corp cut its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,664,077 shares of the biopharmaceutical company’s stock after selling 33,024 shares during the quarter. State Street Corp’s holdings in Ultragenyx Pharmaceutical were worth $147,989,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $33,000. UMB Bank n.a. raised its holdings in 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 buying an additional 352 shares during the last quarter. True Wealth Design LLC bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at $43,000. Values First Advisors Inc. bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at $56,000. Finally, Capital Performance Advisors LLP bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at $107,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 8,273 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. This represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RARE shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. HC Wainwright upped their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $45.78 on Friday. The firm’s 50-day moving average price is $50.47 and its 200-day moving average price is $49.08. The company has a market capitalization of $4.23 billion, a PE ratio of -7.08 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its 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 firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.23) EPS. Equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

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.