Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,443 shares of the biopharmaceutical company’s stock after selling 549 shares during the period. M&T Bank Corp’s holdings in Ultragenyx Pharmaceutical were worth $271,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 273 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 294 shares during the period. Motley Fool Asset Management LLC grew its holdings 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 valued at $8,005,000 after purchasing an additional 360 shares during the period. Smartleaf Asset Management LLC grew its holdings in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 493 shares during the period. Finally, KBC Group NV grew its holdings in Ultragenyx Pharmaceutical by 24.5% in 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 period. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the transaction, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,370 shares of company stock valued at $5,751,499 in the last three months. 5.80% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Stock Up 0.2 %

NASDAQ:RARE opened at $39.34 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $37.02 and a 52 week high of $60.37. The company has a market capitalization of $3.64 billion, a P/E ratio of -6.21 and a beta of 0.67. The stock’s fifty day moving average is $42.29 and its two-hundred day moving average is $48.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on RARE. Wedbush reissued a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group raised their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Piper Sandler raised their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Ultragenyx Pharmaceutical Company 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.