Mirae Asset Global Investments Co. Ltd. Has $5.18 Million Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Mirae Asset Global Investments Co. Ltd. cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 48.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,355 shares of the biopharmaceutical company's stock after selling 102,613 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Ultragenyx Pharmaceutical worth $5,182,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sands Capital Management LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at $123,335,000. Norges Bank acquired a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at $33,526,000. BlackRock Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 12.4% in the 1st quarter. BlackRock Inc. now owns 4,873,356 shares of the biopharmaceutical company's stock valued at $195,422,000 after buying an additional 536,513 shares during the period. State Street Corp increased its stake in shares of Ultragenyx Pharmaceutical by 26.1% in the 2nd quarter. State Street Corp now owns 2,457,308 shares of the biopharmaceutical company's stock valued at $146,603,000 after buying an additional 508,624 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Ultragenyx Pharmaceutical by 17.1% in the 1st quarter. Wellington Management Group LLP now owns 3,370,245 shares of the biopharmaceutical company's stock valued at $244,747,000 after buying an additional 492,842 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ultragenyx Pharmaceutical news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now owns 14,860 shares of the company's stock, valued at approximately $756,076.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,974 shares of company stock worth $1,639,721. Corporate insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wedbush reissued a "neutral" rating and issued a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, March 18th. Cantor Fitzgerald reissued an "overweight" rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Finally, Robert W. Baird lifted their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

Ultragenyx Pharmaceutical Trading Down 1.3 %

Shares of NASDAQ:RARE traded down $0.56 during midday trading on Tuesday, hitting $42.31. The company had a trading volume of 886,829 shares, compared to its average volume of 764,026. The firm has a fifty day simple moving average of $48.22 and a 200 day simple moving average of $43.39. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -5.08 and a beta of 0.65. Ultragenyx Pharmaceutical Inc. has a 12 month low of $31.52 and a 12 month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.65) by $0.13. The firm had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($2.16) earnings per share. Equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.34 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.