Wellington Management Group LLP Trims Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wellington Management Group LLP trimmed its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,415,029 shares of the biopharmaceutical company’s stock after selling 780,851 shares during the quarter. Wellington Management Group LLP owned about 5.36% of Ultragenyx Pharmaceutical worth $211,127,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares during the last quarter. Van ECK Associates Corp raised its position in Ultragenyx Pharmaceutical by 34.0% during the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Ultragenyx Pharmaceutical by 38.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 548 shares in the last quarter. Covestor Ltd raised its position in Ultragenyx Pharmaceutical by 392.1% during the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 596 shares in the last quarter. Finally, Xponance Inc. raised its position in Ultragenyx Pharmaceutical by 6.8% during the fourth quarter. Xponance Inc. now owns 10,162 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 648 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares of the company’s stock, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares of the company’s stock, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 10th. The shares were sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,685 shares of company stock valued at $518,923. Insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $37.42 on Wednesday. The business’s 50 day moving average price is $42.23 and its 200-day moving average price is $45.19. The firm has a market capitalization of $3.11 billion, a PE ratio of -4.66 and a beta of 0.60. Ultragenyx Pharmaceutical Inc. has a 1 year low of $31.52 and a 1 year high of $54.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The company had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted ($2.33) EPS. As a group, analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent research reports. Bank of America reduced their price target on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada began coverage on Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $115.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, June 12th. Canaccord Genuity Group raised their price objective on Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Robert W. Baird raised their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $86.71.

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.