Principal Financial Group Inc. Acquires 76,150 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Principal Financial Group Inc. raised its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 740.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,440 shares of the biopharmaceutical company's stock after purchasing an additional 76,150 shares during the period. Principal Financial Group Inc. owned 0.10% of Ultragenyx Pharmaceutical worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Emerald Advisers LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 17.1% during the third quarter. Emerald Advisers LLC now owns 569,798 shares of the biopharmaceutical company's stock worth $31,652,000 after purchasing an additional 83,116 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in Ultragenyx Pharmaceutical by 9.9% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 429,302 shares of the biopharmaceutical company's stock worth $23,848,000 after purchasing an additional 38,778 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ultragenyx Pharmaceutical by 81.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,726 shares of the biopharmaceutical company's stock valued at $985,000 after purchasing an additional 7,960 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth about $598,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 195.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,753 shares of the biopharmaceutical company's stock valued at $1,208,000 after purchasing an additional 14,394 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RARE shares. Cantor Fitzgerald reissued an "overweight" rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an "outperform" rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Canaccord Genuity Group restated a "buy" rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.46.

Ultragenyx Pharmaceutical Stock Up 2.7 %

Shares of Ultragenyx Pharmaceutical stock traded up $1.22 during trading on Friday, reaching $47.24. The company's stock had a trading volume of 593,870 shares, compared to its average volume of 785,594. The business's 50-day moving average price is $53.37 and its 200-day moving average price is $48.36. Ultragenyx Pharmaceutical Inc. has a 52 week low of $37.02 and a 52 week high of $60.37. The firm has a market cap of $4.36 billion, a PE ratio of -7.11 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business's revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.23) EPS. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock valued at $1,515,967 in the last three months. Corporate insiders own 5.80% of the company's stock.

About Ultragenyx Pharmaceutical

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.