Assenagon Asset Management S.A. grew its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) by 159.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,227 shares of the biopharmaceutical company’s stock after purchasing an additional 254,408 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.59% of Ultragenyx Pharmaceutical worth $16,611,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Ultragenyx Pharmaceutical by 111.4% in the fourth quarter. Quadrant Capital Group LLC now owns 924 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 487 shares during the period. Lazard Asset Management LLC increased its position in Ultragenyx Pharmaceutical by 36.6% during the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 240 shares during the period. Signaturefd LLC increased its position in Ultragenyx Pharmaceutical by 143.7% during the fourth quarter. Signaturefd LLC now owns 1,462 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 862 shares during the period. Harbor Capital Advisors Inc. increased its position in Ultragenyx Pharmaceutical by 26.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,264 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 469 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $141,000. 96.56% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
RARE has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, April 26th. They set an “overweight” rating and a $114.00 price target on the stock. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of Ultragenyx Pharmaceutical in a research report on Monday, May 8th. Citigroup raised their price target on shares of Ultragenyx Pharmaceutical from $130.00 to $133.00 in a research report on Wednesday, June 7th. StockNews.com initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Evercore ISI raised shares of Ultragenyx Pharmaceutical from an “in-line” rating to an “outperform” rating and raised their target price for the company from $60.00 to $80.00 in a report on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.69.
Ultragenyx Pharmaceutical Trading Down 1.1 %
Ultragenyx Pharmaceutical (NASDAQ:RARE – Free Report) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($2.33) EPS for the quarter, missing the consensus estimate of ($1.97) by ($0.36). Ultragenyx Pharmaceutical had a negative return on equity of 149.75% and a negative net margin of 187.31%. The business had revenue of $100.50 million for the quarter, compared to analyst estimates of $103.90 million. During the same quarter in the prior year, the business earned ($2.19) earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -8.35 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Corazon (Corsee) D. Sanders sold 585 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $46.76, for a total transaction of $27,354.60. Following the sale, the director now directly owns 8,985 shares in the company, valued at approximately $420,138.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 585 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $46.76, for a total transaction of $27,354.60. Following the completion of the transaction, the director now owns 8,985 shares in the company, valued at approximately $420,138.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Karah Herdman Parschauer sold 4,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $197,010.00. Following the transaction, the executive vice president now owns 51,982 shares of the company’s stock, valued at approximately $2,339,190. The disclosure for this sale can be found here. Insiders have sold a total of 8,765 shares of company stock worth $416,366 in the last ninety days. Company insiders own 6.80% of the company’s stock.
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.
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