Bank of New York Mellon Corp Makes New Investment in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Bank of New York Mellon purchased 470,697 shares of Ultragenyx Pharmaceutical during the second quarter, worth approximately $15.7 million and representing about 0.48% of the company. Institutional investors collectively own 97.67% of RARE.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $59.44. Recent targets range from $26 to $103, reflecting significant disagreement about the stock’s prospects.
• Ultragenyx reported better-than-expected quarterly results, losing $0.90 per share versus the $1.22 expected and generating $214 million in revenue, up 28.5% year over year. Despite the revenue growth, the company remains unprofitable, with an 81.79% negative net margin.

Bank of New York Mellon Corp purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 470,697 shares of the biopharmaceutical company's stock, valued at approximately $15,717,000. Bank of New York Mellon Corp owned approximately 0.48% of Ultragenyx Pharmaceutical at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RARE. CANADA LIFE ASSURANCE Co grew its stake in Ultragenyx Pharmaceutical by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company's stock worth $817,000 after buying an additional 534 shares during the last quarter. Van ECK Associates Corp raised its stake in Ultragenyx Pharmaceutical by 26.1% in the third quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company's stock valued at $80,000 after buying an additional 549 shares during the last quarter. Tidal Investments LLC raised its stake in Ultragenyx Pharmaceutical by 4.7% in the second quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company's stock valued at $458,000 after buying an additional 564 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 0.4% in the fourth quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company's stock worth $3,612,000 after acquiring an additional 577 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 43.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares of the company's stock, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the sale, the director directly owned 21,095 shares in the company, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RARE shares. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Guggenheim lowered their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Finally, Cantor Fitzgerald raised their price target on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.44.

Ultragenyx Pharmaceutical Trading Down 1.6%

Shares of NASDAQ:RARE opened at $25.21 on Tuesday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $18.29 and a twelve month high of $39.89. The company has a market cap of $2.49 billion, a PE ratio of -4.32 and a beta of 0.35. The company's 50 day moving average is $28.47 and its 200 day moving average is $25.04.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million during the quarter, compared to analysts' expectations of $183.08 million. During the same period in the previous year, the business posted ($1.17) EPS. The business's quarterly revenue was up 28.5% compared to the same quarter last year. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical 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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