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

Victory Capital Management Inc. raised its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $33,000. UMB Bank n.a. increased its stake in Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the period. Values First Advisors Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $56,000. Capital Performance Advisors LLP bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $107,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,333 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 851 shares during the period. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $48.13 on Friday. The firm has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58. The business’s 50-day moving average is $52.48 and its two-hundred day moving average is $48.57. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37.

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

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,556 shares of company stock worth $1,515,967. Insiders own 5.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on RARE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. HC Wainwright raised their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group restated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, Wedbush increased 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. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

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.