Victory Capital Management Inc. Boosts Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Victory Capital Management Inc. lifted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,948 shares of the biopharmaceutical company’s stock after purchasing an additional 884 shares during the quarter. Victory Capital Management Inc.’s holdings in Ultragenyx Pharmaceutical were worth $608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Investments Inc acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $269,000. Capital Performance Advisors LLP acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth $107,000. Principal Financial Group Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares during the period. Emerald Advisers LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 17.1% during the third quarter. Emerald Advisers LLC now owns 569,798 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 83,116 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in Ultragenyx Pharmaceutical by 9.9% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 429,302 shares of the biopharmaceutical company’s stock valued at $23,848,000 after purchasing an additional 38,778 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock valued at $1,515,967 over the last quarter. 5.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RARE shares. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. HC Wainwright upped their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays dropped their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $87.46.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $48.13 on Friday. The stock has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The company has a fifty day moving average of $52.48 and a two-hundred day moving average of $48.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the firm earned ($2.23) EPS. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.

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.