Federated Hermes Inc. Sells 60,900 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Federated Hermes Inc. cut its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,049,800 shares of the biopharmaceutical company's stock after selling 60,900 shares during the quarter. Federated Hermes Inc. owned 2.22% of Ultragenyx Pharmaceutical worth $86,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at $40,463,000. Pictet Asset Management Holding SA lifted its holdings in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after acquiring an additional 653,088 shares during the period. Fisher Asset Management LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at approximately $11,156,000. Prudential Financial Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 659.5% during the 4th quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company's stock worth $11,483,000 after acquiring an additional 237,003 shares during the period. Finally, Frazier Life Sciences Management L.P. raised its stake in Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company's stock valued at $35,203,000 after acquiring an additional 208,715 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Wedbush restated a "neutral" rating and set a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $92.79.

Ultragenyx Pharmaceutical Trading Up 3.0 %

NASDAQ:RARE traded up $0.98 during mid-day trading on Friday, reaching $34.14. The company's stock had a trading volume of 1,103,595 shares, compared to its average volume of 811,190. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37. The firm's fifty day moving average price is $39.38 and its two-hundred day moving average price is $44.88. The stock has a market cap of $3.21 billion, a P/E ratio of -5.38 and a beta of 0.61.

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

Insider Transactions at Ultragenyx Pharmaceutical

In related news, insider John Richard Pinion sold 14,439 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $607,881.90. Following the sale, the insider now directly owns 107,766 shares of the company's stock, valued at $4,536,948.60. This represents a 11.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 73,434 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the sale, the chief executive officer now owns 641,731 shares of the company's stock, valued at approximately $27,016,875.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,643 shares of company stock valued at $5,256,268 over the last 90 days. Company insiders own 5.80% 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.