Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,040 shares of the biopharmaceutical company’s stock after selling 403 shares during the period. M&T Bank Corp’s holdings in Ultragenyx Pharmaceutical were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RARE. Raymond James Financial Inc. acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $916,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ultragenyx Pharmaceutical by 28.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,874 shares of the biopharmaceutical company’s stock worth $962,000 after buying an additional 5,104 shares during the last quarter. Swiss National Bank boosted its stake in Ultragenyx Pharmaceutical by 2.5% during the fourth quarter. Swiss National Bank now owns 163,152 shares of the biopharmaceutical company’s stock worth $6,864,000 after buying an additional 4,000 shares during the last quarter. Xponance Inc. boosted its stake in Ultragenyx Pharmaceutical by 8.3% during the fourth quarter. Xponance Inc. now owns 12,205 shares of the biopharmaceutical company’s stock worth $513,000 after buying an additional 940 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Ultragenyx Pharmaceutical by 20.2% in the fourth quarter. Teacher Retirement System of Texas now owns 24,574 shares of the biopharmaceutical company’s stock valued at $1,034,000 after purchasing an additional 4,130 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Upgrades and Downgrades

RARE has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Wedbush reduced their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 14th. Morgan Stanley reduced their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, July 14th. William Blair initiated coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.64.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the sale, the director owned 15,344 shares in the company, valued at $573,712.16. This represents a 13.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 3,167 shares of company stock worth $118,824. 5.50% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Trading Down 4.0%

RARE stock opened at $26.31 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of -4.47 and a beta of 0.26. Ultragenyx Pharmaceutical Inc. has a 12-month low of $26.00 and a 12-month high of $60.37. The business’s fifty day moving average price is $35.65 and its 200 day moving average price is $38.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 186.49% and a negative net margin of 93.04%. The company had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $145.98 million. During the same quarter last year, the company earned ($2.03) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 28.0% compared to the same quarter last year. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 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.