Bank of New York Mellon Corp Sells 42,812 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of New York Mellon Corp lowered its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696,161 shares of the biopharmaceutical company's stock after selling 42,812 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Ultragenyx Pharmaceutical worth $25,208,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock worth $422,167,000 after buying an additional 89,389 shares during the last quarter. Invesco Ltd. increased its position in Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after acquiring an additional 25,487 shares during the period. Alliancebernstein L.P. increased its position in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock worth $68,487,000 after acquiring an additional 81,667 shares during the period. Vestal Point Capital LP increased its holdings in Ultragenyx Pharmaceutical by 100.0% in the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after buying an additional 750,000 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in Ultragenyx Pharmaceutical by 23.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after buying an additional 269,733 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the sale, the director owned 15,344 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders sold a total of 3,167 shares of company stock valued at $118,824 in the last three months. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Stock Down 4.0%

Shares of Ultragenyx Pharmaceutical stock traded down $1.10 during trading on Friday, hitting $26.31. 3,904,088 shares of the stock traded hands, compared to its average volume of 977,685. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -4.47 and a beta of 0.26. The firm's fifty day moving average is $35.65 and its 200-day moving average is $38.22. Ultragenyx Pharmaceutical Inc. has a 52 week low of $26.00 and a 52 week high of $60.37.

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 business had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. During the same quarter last year, the business posted ($2.03) EPS. The company's quarterly revenue was up 28.0% compared to the same quarter last year. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on RARE. Guggenheim reiterated a "buy" rating and set a $64.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Morgan Stanley lowered their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. William Blair began coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price target for the company. Wells Fargo & Company cut their price objective on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Wedbush cut their price target on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, July 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.64.

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.