KBC Group NV Lowers Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

KBC Group NV reduced its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 93.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,696 shares of the biopharmaceutical company's stock after selling 57,314 shares during the quarter. KBC Group NV's holdings in Ultragenyx Pharmaceutical were worth $134,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Deep Track Capital LP bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at about $27,493,000. Dark Forest Capital Management LP bought a new position in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $459,000. First Light Asset Management LLC grew its position in Ultragenyx Pharmaceutical by 1.1% during the 4th quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock worth $32,125,000 after acquiring an additional 8,505 shares during the last quarter. Stifel Financial Corp grew its position in Ultragenyx Pharmaceutical by 13.5% during the 4th quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after acquiring an additional 2,835 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its position in Ultragenyx Pharmaceutical by 23.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock worth $60,570,000 after acquiring an additional 269,733 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Guggenheim restated a "buy" rating and set a $64.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Piper Sandler reduced their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, William Blair began coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of Ultragenyx Pharmaceutical stock in a transaction on 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 transaction, the director owned 15,344 shares in the company, valued at approximately $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 3,167 shares of company stock worth $118,824 in the last three months. 5.50% of the stock is currently owned by insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $0.19 on Tuesday, reaching $39.42. The stock had a trading volume of 1,205,385 shares, compared to its average volume of 841,654. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -6.70 and a beta of 0.26. The company has a 50-day simple moving average of $36.75 and a 200-day simple moving average of $38.95. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). The firm had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.03) EPS. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

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.