The Manufacturers Life Insurance Company Purchases 119,950 Shares of Ultragenyx Pharmaceutical Inc. $RARE

The Manufacturers Life Insurance Company lifted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 36.2% during the 1st quarter, HoldingsChannel reports. The firm owned 451,119 shares of the biopharmaceutical company’s stock after acquiring an additional 119,950 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ultragenyx Pharmaceutical were worth $9,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RARE. Vanguard Group Inc. raised its holdings in Ultragenyx Pharmaceutical by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock worth $236,068,000 after purchasing an additional 131,087 shares in the last quarter. State Street Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 16.5% during the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock valued at $98,970,000 after buying an additional 610,559 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Ultragenyx Pharmaceutical by 26.6% in the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock worth $56,624,000 after buying an additional 516,781 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after acquiring an additional 2,057,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $25.02 on Tuesday. The stock has a market capitalization of $2.46 billion, a P/E ratio of -4.09 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $39.89. The business has a fifty day moving average price of $27.71 and a 200-day moving average price of $24.74.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The business had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $158.19 million. During the same period last year, the business earned ($1.57) earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the transaction, the chief financial officer owned 105,689 shares in the company, valued at approximately $2,512,227.53. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,292 shares of company stock worth $351,644 over the last quarter. 5.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on RARE. Morgan Stanley boosted their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Royal Bank Of Canada lifted their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted 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, May 6th. Cantor Fitzgerald upped their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Wedbush lowered their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $58.41.

About Ultragenyx Pharmaceutical

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.