BlackRock Inc. Makes New Investment in Ultragenyx Pharmaceutical Inc. $RARE

BlackRock Inc. acquired a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,654,276 shares of the biopharmaceutical company's stock, valued at approximately $355,746,000. BlackRock Inc. owned approximately 10.82% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Ultragenyx Pharmaceutical by 614.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock valued at $65,205,000 after acquiring an additional 1,864,164 shares in the last quarter. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $29,004,000. Eagle Health Investments LP purchased a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth $18,522,000. Finally, Millennium Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 787.6% in the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company's stock worth $20,255,000 after buying an additional 781,431 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction dated 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 owned 94,462 shares of the company's stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 8,552 shares of company stock worth $207,455. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on RARE shares. Citigroup increased their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Royal Bank Of Canada increased their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Guggenheim cut their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.22.

Ultragenyx Pharmaceutical Trading Up 2.9%

NASDAQ:RARE opened at $26.46 on Wednesday. The stock has a 50 day moving average of $28.62 and a 200-day moving average of $25.00. The firm has a market capitalization of $2.61 billion, a PE ratio of -4.53 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 52 week low of $18.29 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same quarter last year, the business posted ($1.17) EPS. The business's revenue was up 28.5% on a year-over-year basis. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.99 EPS 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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