DnB Asset Management AS Purchases New Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Posted by Defense World Staff on Sep 20th, 2023

DnB Asset Management AS acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,826 shares of the biopharmaceutical company’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in 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 purchasing an additional 239 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 36.6% during 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 during the last quarter. Amalgamated Bank raised its holdings in Ultragenyx Pharmaceutical by 1.7% during the 4th quarter. Amalgamated Bank now owns 14,673 shares of the biopharmaceutical company’s stock worth $680,000 after purchasing an additional 251 shares during the last quarter. Chartwell Investment Partners LLC raised its holdings in Ultragenyx Pharmaceutical by 6.1% during the 4th quarter. Chartwell Investment Partners LLC now owns 8,085 shares of the biopharmaceutical company’s stock worth $374,000 after purchasing an additional 462 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Ultragenyx Pharmaceutical by 6.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,817 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 468 shares during the last quarter. 96.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $40.80, for a total value of $88,250.40. Following the sale, the chief accounting officer now owns 23,614 shares in the company, valued at approximately $963,451.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultragenyx Pharmaceutical news, EVP Erik Harris sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $37.96, for a total value of $227,760.00. Following the sale, the executive vice president now owns 51,281 shares in the company, valued at approximately $1,946,626.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theodore Alan Huizenga sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $40.80, for a total value of $88,250.40. Following the completion of the sale, the chief accounting officer now owns 23,614 shares in the company, valued at approximately $963,451.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,718 shares of company stock worth $379,401. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, August 4th. StockNews.com assumed coverage on Ultragenyx Pharmaceutical in a research report on Thursday, August 17th. They set a “hold” rating for the company. Evercore ISI upgraded Ultragenyx Pharmaceutical from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $80.00 in a research report on Tuesday, June 6th. Wedbush decreased their target price on Ultragenyx Pharmaceutical from $49.00 to $47.00 in a research report on Friday, August 4th. Finally, HC Wainwright restated a “buy” rating and set a $82.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.21.

Check Out Our Latest Report on RARE

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $36.39 on Wednesday. The stock has a 50 day simple moving average of $39.44 and a 200 day simple moving average of $42.92. Ultragenyx Pharmaceutical Inc. has a 52-week low of $33.36 and a 52-week high of $54.98. The firm has a market capitalization of $2.60 billion, a PE ratio of -3.55 and a beta of 0.87.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($2.25) earnings per share (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 220.54%. The business had revenue of $108.30 million during the quarter, compared to analyst estimates of $107.10 million. During the same quarter in the prior year, the firm posted ($2.26) earnings per share. Ultragenyx Pharmaceutical’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -8.65 EPS for the current fiscal year.

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.