Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,992 shares of the biopharmaceutical company’s stock after buying an additional 525 shares during the quarter. M&T Bank Corp’s holdings in Ultragenyx Pharmaceutical were worth $388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 103.8% in the second 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 in the last quarter. Alkeon Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Ultragenyx Pharmaceutical by 123.4% during the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after buying an additional 545,600 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 63.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after buying an additional 323,280 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $42.94 on Thursday. The firm has a market capitalization of $3.97 billion, a P/E ratio of -6.64 and a beta of 0.56. The business has a 50 day simple moving average of $50.16 and a 200 day simple moving average of $49.31. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results 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 net margin of 106.93% and a negative return on equity of 187.12%. 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 previous year, the company posted ($2.23) earnings per share. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the sale, the chief executive officer now owns 2,195,712 shares of the company’s stock, valued at $109,785,600. The trade was a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

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.