Bank of New York Mellon Corp Sells 33,112 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of New York Mellon Corp decreased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 738,973 shares of the biopharmaceutical company’s stock after selling 33,112 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Ultragenyx Pharmaceutical worth $31,089,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $43,000. Human Investing LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $42,000. Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $83,000. Nomura Asset Management Co. Ltd. bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $93,000. Finally, Van ECK Associates Corp lifted its position in shares of Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 273 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the transaction, the executive vice president now directly owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of the 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 in the company, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,858 shares of company stock worth $6,093,035. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RARE. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Piper Sandler raised their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $93.50.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $38.62 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The company’s 50-day moving average is $42.57 and its 200 day moving average is $48.69. The stock has a market capitalization of $3.57 billion, a P/E ratio of -6.09 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced 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). The business had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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.