Ultragenyx Pharmaceutical Inc. $RARE Shares Bought by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management dramatically increased its stake in Ultragenyx Pharmaceutical, reporting ownership of 122,854 shares worth about $2.83 million after a huge fourth-quarter purchase.
• Several other large institutions also added to their positions, and overall institutional ownership remains high at 97.67% of the company’s stock.
• Wall Street sentiment is mixed but generally positive: analysts’ consensus rating is Moderate Buy with an average price target of $59.56, even as the company recently missed earnings and revenue estimates.

Caitong International Asset Management Co. Ltd increased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 1,116,754.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,854 shares of the biopharmaceutical company's stock after acquiring an additional 122,843 shares during the quarter. Caitong International Asset Management Co. Ltd owned about 0.13% of Ultragenyx Pharmaceutical worth $2,826,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company's stock worth $236,068,000 after acquiring an additional 131,087 shares during the period. State Street Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 16.5% in the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company's stock worth $98,970,000 after acquiring an additional 610,559 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ultragenyx Pharmaceutical by 26.6% in the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company's stock worth $56,624,000 after acquiring an additional 516,781 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock worth $65,205,000 after purchasing an additional 1,864,164 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 1,838,208 shares of the biopharmaceutical company's stock worth $42,287,000 after purchasing an additional 257,701 shares during the period. Hedge funds and other institutional investors own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Truist Financial upgraded Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Wall Street Zen raised Ultragenyx Pharmaceutical from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 6th. Finally, Wedbush reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.56.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares of the company's stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,002 shares of company stock worth $575,039 in the last three months. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $27.44 on Friday. The company's fifty day moving average is $24.34 and its two-hundred day moving average is $24.88. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $42.37. The company has a market capitalization of $2.70 billion, a P/E ratio of -4.49 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.57) EPS. As a group, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current 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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