Bank of New York Mellon Corp Reduces Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bank of New York Mellon Corp decreased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 738,973 shares of the biopharmaceutical company's stock after selling 33,112 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of Ultragenyx Pharmaceutical worth $31,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RARE. Human Investing LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $42,000. True Wealth Design LLC bought a new stake in Ultragenyx Pharmaceutical in the third quarter worth $43,000. Van ECK Associates Corp grew its stake in shares of Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 273 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at $83,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at $93,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares of the company's stock, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the sale, the executive vice president now owns 54,991 shares in the company, valued at approximately $2,358,014.08. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,370 shares of company stock worth $5,751,499 over the last quarter. 5.80% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several analysts recently commented on RARE shares. Canaccord Genuity Group increased their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Piper Sandler raised their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wedbush reissued a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.50.

Ultragenyx Pharmaceutical Trading Up 5.2 %

NASDAQ RARE traded up $1.97 during trading hours on Wednesday, hitting $40.30. 408,231 shares of the company's stock traded hands, compared to its average volume of 866,173. Ultragenyx Pharmaceutical Inc. has a 52 week low of $37.02 and a 52 week high of $60.37. The firm has a market capitalization of $3.73 billion, a P/E ratio of -6.37 and a beta of 0.67. The business's fifty day moving average price is $42.40 and its two-hundred day moving average price is $48.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million during the quarter, compared to analysts' expectations of $163.23 million. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

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.