Mirae Asset Global Investments Co. Ltd. Has $9.35 Million Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Posted by Defense World Staff on Aug 8th, 2023

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 233,156 shares of the biopharmaceutical company’s stock after buying an additional 8,479 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.33% of Ultragenyx Pharmaceutical worth $9,350,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RARE. China Universal Asset Management Co. Ltd. raised its holdings in shares of Ultragenyx Pharmaceutical by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 951 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 239 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Ultragenyx Pharmaceutical by 111.4% in the 4th quarter. Quadrant Capital Group LLC now owns 924 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 487 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Ultragenyx Pharmaceutical by 36.6% in the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 240 shares in the last quarter. Signaturefd LLC increased its holdings in Ultragenyx Pharmaceutical by 143.7% in the 4th quarter. Signaturefd LLC now owns 1,462 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 862 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $141,000. Institutional investors and hedge funds own 96.56% of the company’s stock.

Insider Activity at Ultragenyx Pharmaceutical

In related news, insider John Richard Pinion sold 2,012 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $100,600.00. Following the transaction, the insider now directly owns 74,744 shares of the company’s stock, valued at approximately $3,737,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John Richard Pinion sold 2,012 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $100,600.00. Following the transaction, the insider now directly owns 74,744 shares of the company’s stock, valued at approximately $3,737,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 1,485 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $51.65, for a total value of $76,700.25. Following the transaction, the director now directly owns 9,570 shares in the company, valued at $494,290.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,387 shares of company stock worth $219,356 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $36.14 on Tuesday. Ultragenyx Pharmaceutical Inc. has a one year low of $33.36 and a one year high of $56.13. The stock’s 50-day moving average is $46.66 and its 200 day moving average is $44.54.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($2.25) EPS for the quarter, missing the consensus estimate of ($2.11) by ($0.14). Ultragenyx Pharmaceutical had a negative net margin of 178.91% and a negative return on equity of 185.89%. The business had revenue of $108.30 million for the quarter, compared to the consensus estimate of $107.10 million. During the same quarter in the previous year, the company earned ($2.26) EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that Ultragenyx Pharmaceutical Inc. will post -8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RARE shares. HC Wainwright reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, August 1st. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $49.00 to $47.00 in a report on Friday. StockNews.com started coverage on Ultragenyx Pharmaceutical in a report on Thursday, May 18th. They issued a “hold” rating for the company. Cantor Fitzgerald assumed coverage on Ultragenyx Pharmaceutical in a report on Wednesday, April 26th. They issued an “overweight” rating and a $114.00 target price for the company. Finally, Citigroup upped their price target on Ultragenyx Pharmaceutical from $130.00 to $133.00 in a research report on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.21.

View Our Latest Report on RARE

Ultragenyx Pharmaceutical Profile

(Free Report)

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.