Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 35.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,290 shares of the biopharmaceutical company’s stock after selling 5,687 shares during the period. Principal Financial Group Inc.’s holdings in Ultragenyx Pharmaceutical were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RARE. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the first quarter worth approximately $28,000. UMB Bank n.a. grew its holdings in Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 352 shares during the period. GAMMA Investing LLC grew its holdings in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 865 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Ultragenyx Pharmaceutical by 67.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 140.9% during the 1st quarter. Lazard Asset Management LLC now owns 4,160 shares of the biopharmaceutical company’s stock valued at $193,000 after purchasing an additional 2,433 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 1.6 %

Shares of Ultragenyx Pharmaceutical stock opened at $58.74 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $31.52 and a 1 year high of $59.76. The company’s fifty day simple moving average is $50.47 and its 200-day simple moving average is $46.30. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -7.32 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the business earned ($2.25) earnings per share. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 40,675 shares of company stock worth $2,149,446 over the last three months. Company insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush raised their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Two 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, the company has a consensus rating of “Moderate Buy” and an average price target of $87.43.

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.