Assenagon Asset Management S.A. Sells 76,160 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Assenagon Asset Management S.A. lessened its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 52.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,273 shares of the biopharmaceutical company’s stock after selling 76,160 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Ultragenyx Pharmaceutical worth $2,914,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RARE. Wealth Enhancement Advisory Services LLC lifted its stake in Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 294 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 0.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock valued at $8,005,000 after acquiring an additional 360 shares in the last quarter. KBC Group NV lifted its stake in Ultragenyx Pharmaceutical by 24.5% in the 3rd quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 506 shares in the last quarter. M&T Bank Corp lifted its stake in Ultragenyx Pharmaceutical by 8.1% in the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 525 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Ultragenyx Pharmaceutical by 13.4% in the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 696 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wedbush reaffirmed a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.29.

Ultragenyx Pharmaceutical Trading Up 3.2 %

RARE stock opened at $41.28 on Wednesday. The business’s 50 day simple moving average is $44.88 and its 200 day simple moving average is $49.63. The firm has a market capitalization of $3.81 billion, a PE ratio of -6.38 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the company posted ($2.23) EPS. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.15 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

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.