Van ECK Associates Corp Sells 457 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Van ECK Associates Corp lowered its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 23.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,487 shares of the biopharmaceutical company’s stock after selling 457 shares during the quarter. Van ECK Associates Corp’s holdings in Ultragenyx Pharmaceutical were worth $81,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the first quarter valued at approximately $28,000. nVerses Capital LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at approximately $33,000. UMB Bank n.a. raised its position in shares of Ultragenyx Pharmaceutical by 58.1% during the second 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. Values First Advisors Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $56,000. Finally, Allspring Global Investments Holdings LLC increased its position in Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

RARE has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Wedbush boosted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two analysts have 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 a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Trading Up 1.8 %

Shares of RARE opened at $48.71 on Thursday. The firm has a market capitalization of $4.50 billion, a P/E ratio of -7.53 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a 12-month low of $36.51 and a 12-month high of $60.37. The firm has a fifty day moving average price of $54.64 and a 200-day moving average price of $48.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business’s revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.23) earnings per share. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 over the last three months. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical 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.