The Manufacturers Life Insurance Company Lowers Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

The Manufacturers Life Insurance Company decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,587 shares of the biopharmaceutical company's stock after selling 21,468 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.23% of Ultragenyx Pharmaceutical worth $9,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RARE. Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at $83,000. Nordea Investment Management AB raised its position in Ultragenyx Pharmaceutical by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock worth $1,658,000 after purchasing an additional 3,246 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after buying an additional 294 shares during the period. KBC Group NV raised its position in shares of Ultragenyx Pharmaceutical by 2,275.8% during the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock worth $2,567,000 after acquiring an additional 58,442 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $103,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $0.82 on Friday, hitting $35.16. The stock had a trading volume of 1,136,694 shares, compared to its average volume of 824,723. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -5.55 and a beta of 0.34. The business has a 50 day moving average of $36.89 and a 200 day moving average of $42.55.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Ultragenyx Pharmaceutical's quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.03) EPS. As a group, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

RARE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Piper Sandler dropped their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. HC Wainwright reiterated a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, Wedbush reissued a "neutral" rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.93.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the sale, the chief accounting officer now directly owns 50,265 shares in the company, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Richard Pinion sold 14,439 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $607,881.90. Following the transaction, the insider now directly owns 107,766 shares in the company, valued at $4,536,948.60. This represents a 11.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,405 shares of company stock valued at $5,285,169. Insiders own 5.50% of the company's stock.

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.