Cornercap Investment Counsel Inc. Acquires Shares of 5,146 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Cornercap Investment Counsel Inc. bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,146 shares of the biopharmaceutical company’s stock, valued at approximately $246,000.

A number of other hedge funds have also recently made changes to their positions in the stock. WCM Investment Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 12.3% during the 4th quarter. WCM Investment Management LLC now owns 120,985 shares of the biopharmaceutical company’s stock valued at $5,840,000 after buying an additional 13,220 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 38.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 548 shares during the period. International Assets Investment Management LLC grew its stake in Ultragenyx Pharmaceutical by 3,182.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,623 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock worth $2,745,000 after purchasing an additional 17,000 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Ultragenyx Pharmaceutical by 418.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,501 shares of the biopharmaceutical company’s stock valued at $454,000 after purchasing an additional 7,670 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the transaction, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at $3,620,198.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. Insiders have sold a total of 31,974 shares of company stock worth $1,639,721 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Stock Up 4.3 %

Shares of RARE stock opened at $44.11 on Thursday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $31.52 and a 12-month high of $54.98. The business’s fifty day simple moving average is $48.14 and its 200-day simple moving average is $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.65) by $0.13. The company had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.16) EPS. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RARE shares. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Wedbush restated a “neutral” rating and issued a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday. Canaccord Genuity Group upped their price target on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $91.55.

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.