Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,734 shares of the biopharmaceutical company’s stock after selling 538 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ultragenyx Pharmaceutical were worth $1,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Ultragenyx Pharmaceutical by 15.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,359 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 975 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in Ultragenyx Pharmaceutical by 7.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 125,561 shares of the biopharmaceutical company’s stock valued at $5,161,000 after acquiring an additional 8,725 shares during the last quarter. UMB Bank n.a. grew its stake 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 acquiring an additional 352 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in Ultragenyx Pharmaceutical by 24.7% during the 2nd quarter. Peregrine Capital Management LLC now owns 148,813 shares of the biopharmaceutical company’s stock valued at $6,116,000 after acquiring an additional 29,474 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Ultragenyx Pharmaceutical by 63.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after acquiring an additional 323,280 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RARE. Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. TD Cowen increased their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, HC Wainwright boosted their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $42.94 on Thursday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -6.64 and a beta of 0.56. The company has a 50 day moving average price of $50.16 and a 200 day moving average price of $49.31. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its 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 return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same period last year, the company posted ($2.23) EPS. The business’s quarterly revenue was up 42.3% on a year-over-year basis. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 8,273 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.