Federated Hermes Inc. Purchases 250,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Federated Hermes Inc. increased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,446,500 shares of the biopharmaceutical company's stock after purchasing an additional 250,000 shares during the period. Federated Hermes Inc. owned 2.98% of Ultragenyx Pharmaceutical worth $116,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RARE. Raymond James & Associates boosted its stake in Ultragenyx Pharmaceutical by 46.0% in the first quarter. Raymond James & Associates now owns 13,882 shares of the biopharmaceutical company's stock valued at $1,008,000 after acquiring an additional 4,373 shares during the period. US Bancorp DE boosted its position in shares of Ultragenyx Pharmaceutical by 14.6% during the first quarter. US Bancorp DE now owns 8,611 shares of the biopharmaceutical company's stock worth $625,000 after buying an additional 1,097 shares during the period. Bank of Montreal Can boosted its position in shares of Ultragenyx Pharmaceutical by 22.7% during the first quarter. Bank of Montreal Can now owns 40,319 shares of the biopharmaceutical company's stock worth $2,927,000 after buying an additional 7,469 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $252,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ultragenyx Pharmaceutical by 44.1% during the first quarter. Dimensional Fund Advisors LP now owns 463,996 shares of the biopharmaceutical company's stock worth $33,693,000 after buying an additional 141,945 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded down $0.73 during trading on Thursday, hitting $43.38. The company had a trading volume of 765,767 shares, compared to its average volume of 766,003. The company has a market cap of $3.57 billion, a P/E ratio of -5.21 and a beta of 0.65. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $54.98. The business's 50-day moving average is $48.10 and its 200 day moving average is $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.65) by $0.13. The company had revenue of $127.39 million for the quarter, compared to analysts' expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.16) earnings per share. On average, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.36 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares of the company's stock, valued at approximately $12,623,452.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares of the company's stock, valued at approximately $12,623,452.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the sale, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,974 shares of company stock valued at $1,639,721. Corporate insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

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

Ultragenyx Pharmaceutical Company 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.