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Skandinaviska Enskilda Banken AB publ Acquires New Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Ultragenyx Pharmaceutical logo with Medical background

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,535 shares of the biopharmaceutical company's stock, valued at approximately $1,178,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $916,000. KLP Kapitalforvaltning AS bought a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $686,000. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock valued at $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Norges Bank bought a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $40,463,000. Finally, DnB Asset Management AS lifted its holdings in Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. DnB Asset Management AS now owns 12,132 shares of the biopharmaceutical company's stock valued at $510,000 after purchasing an additional 1,889 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Guggenheim restated a "buy" rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. HC Wainwright upgraded shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, July 28th. William Blair assumed coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Morgan Stanley lowered their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.57.

Get Our Latest Research Report on Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Stock Up 4.1%

Ultragenyx Pharmaceutical stock traded up $1.12 during midday trading on Friday, hitting $28.44. 2,239,592 shares of the stock were exchanged, compared to its average volume of 3,190,304. The company has a fifty day simple moving average of $33.99 and a two-hundred day simple moving average of $37.21. Ultragenyx Pharmaceutical Inc. has a 52 week low of $25.81 and a 52 week high of $60.37. The stock has a market capitalization of $2.69 billion, a PE ratio of -4.84 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released 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 186.49% and a negative net margin of 93.04%. The firm 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 business earned ($2.03) EPS. The firm's revenue was up 28.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director directly owned 15,344 shares in the company, valued at $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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