State Street Corp Has $147.99 Million Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

State Street Corp reduced its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,664,077 shares of the biopharmaceutical company's stock after selling 33,024 shares during the period. State Street Corp owned approximately 2.89% of Ultragenyx Pharmaceutical worth $147,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RARE. Alkeon Capital Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock worth $167,301,000 after purchasing an additional 769,884 shares during the period. Federated Hermes Inc. increased its stake in Ultragenyx Pharmaceutical by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company's stock worth $86,599,000 after acquiring an additional 168,345 shares during the period. Millennium Management LLC increased its stake in Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock worth $76,065,000 after acquiring an additional 942,529 shares during the period. Baker BROS. Advisors LP raised its holdings in Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company's stock valued at $87,553,000 after acquiring an additional 109,567 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Ultragenyx Pharmaceutical by 16.9% during the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company's stock valued at $46,570,000 after acquiring an additional 164,110 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, November 21st. HC Wainwright boosted their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $87.46.

Ultragenyx Pharmaceutical Trading Down 2.4 %

RARE traded down $1.11 on Friday, reaching $45.78. The stock had a trading volume of 794,215 shares, compared to its average volume of 772,828. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -7.08 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The firm has a 50-day moving average of $50.47 and a 200-day moving average of $49.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the firm posted ($2.23) earnings per share. The firm's revenue was up 42.3% compared to the same quarter last year. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Emil D. Kakkis sold 8,273 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total value of $413,650.00. Following the transaction, the chief executive officer now owns 2,195,712 shares of the company's stock, valued at $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.