Vanguard Group Inc. Buys 131,087 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Vanguard increased its Ultragenyx stake: Vanguard Group bought 131,087 more shares in the fourth quarter, lifting its holdings to 10,263,815 shares worth about $236.1 million. The firm now owns 10.64% of Ultragenyx Pharmaceutical.
• Ultragenyx reported a wider-than-expected quarterly loss: The company posted EPS of ($1.84), missing analyst estimates, while revenue came in at $136 million versus the expected $158.19 million. Revenue also declined 2.2% year over year.
• Analysts remain cautious but mostly positive: Wall Street currently rates Ultragenyx as a Moderate Buy with an average price target of $60.41, though Goldman Sachs recently downgraded the stock to neutral and cut its target to $25.00.

Vanguard Group Inc. boosted its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,263,815 shares of the biopharmaceutical company's stock after acquiring an additional 131,087 shares during the quarter. Vanguard Group Inc. owned 10.64% of Ultragenyx Pharmaceutical worth $236,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 1,706.7% in the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 1,024 shares during the last quarter. Huntington National Bank lifted its holdings in Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 393 shares during the last quarter. Danske Bank A S bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $39,000. Smartleaf Asset Management LLC boosted its position in Ultragenyx Pharmaceutical by 205.4% in the third quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,169 shares in the last quarter. Finally, Covestor Ltd boosted its position in Ultragenyx Pharmaceutical by 26.0% in the third quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 369 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $26.12 on Friday. The company has a 50 day moving average price of $22.68 and a 200 day moving average price of $26.80. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $42.37. The stock has a market capitalization of $2.57 billion, a PE ratio of -4.27 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 2,272.48%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.57) earnings per share. As a group, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RARE shares. The Goldman Sachs Group lowered shares of Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $61.00 to $25.00 in a report on Tuesday, March 24th. JPMorgan Chase & Co. reduced their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th. Wells Fargo & Company increased their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday. Truist Financial raised Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Finally, HC Wainwright cut their price objective on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of "Moderate Buy" and an average target price of $60.41.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 54,404 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the completion of the sale, the chief executive officer directly owned 658,994 shares of the company's stock, valued at approximately $15,025,063.20. The trade was a 7.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Erik Harris sold 10,539 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $240,289.20. Following the transaction, the executive vice president owned 89,515 shares in the company, valued at approximately $2,040,942. The trade was a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,522 shares of company stock valued at $2,543,214 over the last ninety days. Company insiders own 5.20% of the company's stock.

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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