Victory Capital Management Inc. Sells 642 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Victory Capital Management Inc. trimmed its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 5.9% during the fourth quarter, HoldingsChannel reports. The firm owned 10,306 shares of the biopharmaceutical company’s stock after selling 642 shares during the quarter. Victory Capital Management Inc.’s holdings in Ultragenyx Pharmaceutical were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RARE. Atria Investments Inc bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $269,000. Natixis Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 290.0% in the 3rd quarter. Natixis Advisors LLC now owns 52,562 shares of the biopharmaceutical company’s stock valued at $2,920,000 after acquiring an additional 39,086 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $321,000. Swiss National Bank lifted its position in Ultragenyx Pharmaceutical by 9.1% in the 3rd quarter. Swiss National Bank now owns 159,152 shares of the biopharmaceutical company’s stock valued at $8,841,000 after acquiring an additional 13,300 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $119,000. 97.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RARE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Piper Sandler cut their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.71.

Ultragenyx Pharmaceutical Stock Up 0.7 %

NASDAQ RARE opened at $39.18 on Friday. The company has a market capitalization of $3.62 billion, a P/E ratio of -6.18 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37. The firm has a 50-day moving average price of $41.88 and a two-hundred day moving average price of $47.45.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 14,439 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the completion of the sale, the insider now owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. This represents a 11.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,370 shares of company stock valued at $5,751,499. Company insiders own 5.80% of the company’s stock.

About Ultragenyx Pharmaceutical

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.