Amalgamated Bank Acquires 696 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Amalgamated Bank increased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,896 shares of the biopharmaceutical company’s stock after purchasing an additional 696 shares during the period. Amalgamated Bank’s holdings in Ultragenyx Pharmaceutical were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. UMB Bank n.a. raised its position in Ultragenyx Pharmaceutical by 58.1% in 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. US Bancorp DE raised its position in Ultragenyx Pharmaceutical by 5.8% in the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 390 shares during the last quarter. Arizona State Retirement System raised its position in Ultragenyx Pharmaceutical by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after buying an additional 434 shares during the last quarter. ProShare Advisors LLC raised its position in Ultragenyx Pharmaceutical by 8.7% in the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after buying an additional 486 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $28,000. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $55.55 on Tuesday. The firm has a 50-day moving average of $53.28 and a 200-day moving average of $46.67. The stock has a market cap of $4.62 billion, a PE ratio of -6.92 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 52-week low of $31.52 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping 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 business had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. During the same period last year, the firm earned ($2.25) earnings per share. Ultragenyx Pharmaceutical’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 40,091 shares of company stock valued at $2,125,513. 5.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RARE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 16th. Wedbush boosted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays lowered their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.43.

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.