Bank of America Corp DE Decreases Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of America Corp DE lowered its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 58.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,502 shares of the biopharmaceutical company's stock after selling 537,408 shares during the period. Bank of America Corp DE owned about 0.42% of Ultragenyx Pharmaceutical worth $16,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $35,000. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $42,000. 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 valued at $74,000 after buying an additional 273 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $84,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Canaccord Genuity Group boosted their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.93.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded up $0.15 during trading hours on Monday, hitting $35.66. The stock had a trading volume of 441,516 shares, compared to its average volume of 826,659. Ultragenyx Pharmaceutical Inc. has a one year low of $29.59 and a one year high of $60.37. The stock's 50-day moving average price is $35.97 and its two-hundred day moving average price is $41.01. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -5.62 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $139.29 million for the quarter, compared to the consensus estimate of $145.98 million. During the same period in the previous year, the firm earned ($2.03) earnings per share. The company's revenue was up 28.0% compared to the same quarter last year. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the sale, the chief executive officer now owns 2,158,985 shares of the company's stock, valued at $91,713,682.80. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,405 shares of company stock worth $5,285,169 over the last 90 days. Company insiders own 5.50% of the company's stock.

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.