JPMorgan Chase & Co. Has $11.84 Million Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

JPMorgan Chase & Co. decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,210 shares of the biopharmaceutical company’s stock after selling 7,815 shares during the period. JPMorgan Chase & Co. owned about 0.23% of Ultragenyx Pharmaceutical worth $11,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RARE. Motley Fool Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 0.3% in the third quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after purchasing an additional 360 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Ultragenyx Pharmaceutical by 2.1% during the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 434 shares in the last quarter. KBC Group NV grew its stake in shares of Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 506 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Ultragenyx Pharmaceutical by 8.1% in the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock valued at $388,000 after purchasing an additional 525 shares in the last quarter. Finally, Amalgamated Bank raised its position in Ultragenyx Pharmaceutical by 13.4% in the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 696 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE opened at $42.07 on Monday. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37. The firm has a market cap of $3.88 billion, a P/E ratio of -6.50 and a beta of 0.58. The stock’s 50-day moving average is $46.09 and its 200-day moving average is $49.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the firm posted ($2.23) earnings per share. The business’s revenue was up 42.3% on a year-over-year basis. Equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RARE shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. Finally, JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.46.

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.