Hsbc Holdings PLC Raises Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hsbc Holdings PLC lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 195.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,516 shares of the biopharmaceutical company's stock after purchasing an additional 31,416 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Ultragenyx Pharmaceutical worth $1,975,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RARE. Vanguard Group Inc. raised its position in Ultragenyx Pharmaceutical by 0.9% during the fourth 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 in the last quarter. Invesco Ltd. grew its holdings in shares of Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after purchasing an additional 25,487 shares during the last quarter. Alliancebernstein L.P. boosted its position in Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock valued at $68,487,000 after buying an additional 81,667 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Ultragenyx Pharmaceutical by 125.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock valued at $49,375,000 after acquiring an additional 653,088 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Ultragenyx Pharmaceutical by 27.9% during the fourth quarter. Marshall Wace LLP now owns 1,051,573 shares of the biopharmaceutical company's stock valued at $44,240,000 after acquiring an additional 229,561 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the transaction, the chief accounting officer now directly owns 50,265 shares in the company, valued at $2,116,156.50. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,643 shares of company stock worth $5,256,268. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded down $0.43 during trading hours on Monday, reaching $38.87. 588,264 shares of the company's stock traded hands, compared to its average volume of 812,956. The firm has a market cap of $3.65 billion, a PE ratio of -6.13 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 52-week low of $29.59 and a 52-week high of $60.37. The firm has a 50-day simple moving average of $37.38 and a 200 day simple moving average of $42.91.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The business had revenue of $164.88 million for the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. HC Wainwright restated a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Wedbush restated a "neutral" rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, Piper Sandler dropped their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Profile

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.