Bank of New York Mellon Corp Acquires 42,419 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Bank of New York Mellon increased its Ultragenyx Pharmaceutical stake by 14.2% in the first quarter, purchasing 42,419 shares and bringing its holdings to 341,125 shares worth approximately $7.1 million. Institutional investors collectively own 97.67% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $58.41, although individual targets range from $43 to $96.
• Ultragenyx reported weaker-than-expected quarterly results, including a loss of $1.84 per share versus the $1.49 consensus estimate and revenue of $136 million versus $158.19 million expected. The stock opened at $25.02, while insiders have sold 14,292 shares worth about $351,644 over the past three months.

Bank of New York Mellon Corp lifted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,125 shares of the biopharmaceutical company's stock after purchasing an additional 42,419 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of Ultragenyx Pharmaceutical worth $7,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp bought a new stake in Ultragenyx Pharmaceutical in the 1st quarter worth about $2,310,000. Candriam S.C.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 37.1% during the 1st quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company's stock valued at $22,965,000 after acquiring an additional 296,798 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 74.0% during the 1st quarter. Hsbc Holdings PLC now owns 51,637 shares of the biopharmaceutical company's stock valued at $1,080,000 after acquiring an additional 21,958 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth approximately $4,575,000. Finally, Leonteq Securities AG raised its holdings in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,333 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Guggenheim lowered their price objective on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Barclays lowered their price target on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Cantor Fitzgerald raised their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Weiss Ratings raised Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded Ultragenyx Pharmaceutical from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.41.

Ultragenyx Pharmaceutical Trading Up 0.4%

NASDAQ:RARE opened at $25.02 on Tuesday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.29 and a 12-month high of $39.89. The stock has a 50-day moving average price of $27.71 and a 200 day moving average price of $24.74. The stock has a market capitalization of $2.46 billion, a P/E ratio of -4.09 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business had revenue of $136.00 million during the quarter, compared to analysts' expectations of $158.19 million. During the same period in the prior year, the firm posted ($1.57) earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shehnaaz Suliman sold 5,740 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total value of $144,188.80. Following the transaction, the director owned 27,951 shares of the company's stock, valued at approximately $702,129.12. The trade was a 17.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 14,292 shares of company stock worth $351,644. 5.20% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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