Allspring Global Investments Holdings LLC Acquires 548 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Allspring Global Investments Holdings LLC boosted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 38.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,979 shares of the biopharmaceutical company’s stock after purchasing an additional 548 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ultragenyx Pharmaceutical were worth $95,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after buying an additional 214,666 shares during the period. Wellington Management Group LLP raised its holdings in shares of Ultragenyx Pharmaceutical by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock worth $185,233,000 after buying an additional 18,359 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 23.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,196,500 shares of the biopharmaceutical company’s stock worth $78,305,000 after buying an additional 419,900 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in Ultragenyx Pharmaceutical by 6.7% in the third quarter. Rock Springs Capital Management LP now owns 1,476,441 shares of the biopharmaceutical company’s stock valued at $52,635,000 after buying an additional 92,172 shares in the last quarter. Finally, FMR LLC grew its position in Ultragenyx Pharmaceutical by 23.4% in the third quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company’s stock valued at $36,641,000 after acquiring an additional 195,108 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Analysts Set New Price Targets

RARE has been the topic of a number of research analyst reports. Wedbush restated a “neutral” rating and issued a $48.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They issued an “outperform” rating and a $77.00 target price on the stock. TD Cowen upped their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $88.08.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, Director Matthew K. Fust sold 12,195 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the transaction, the director now owns 14,860 shares in the company, valued at $756,076.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the business’s 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 $201,922.56. Following the completion of the transaction, the executive vice president now directly owns 67,340 shares in the company, valued at $3,620,198.40. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 over the last three months. 6.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 0.5 %

Shares of RARE stock opened at $44.02 on Tuesday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $31.52 and a 1-year high of $54.98. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -5.28 and a beta of 0.65. The stock has a 50-day moving average of $47.70 and a 200-day moving average of $43.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The business had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. During the same period in the prior year, the business posted ($2.16) earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.38 earnings per share for the current year.

Ultragenyx Pharmaceutical 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.