Cornercap Investment Counsel Inc. Makes New Investment in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,146 shares of the biopharmaceutical company’s stock, valued at approximately $246,000.

A number of other institutional investors also recently modified their holdings of RARE. WCM Investment Management LLC increased its stake 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 purchasing an additional 13,220 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Ultragenyx Pharmaceutical by 38.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 548 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 3,182.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock worth $80,000 after acquiring an additional 1,623 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Ultragenyx Pharmaceutical by 42.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock worth $2,745,000 after acquiring an additional 17,000 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Ultragenyx Pharmaceutical by 418.9% in 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 acquiring an additional 7,670 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Up 4.3 %

Shares of RARE stock opened at $44.11 on Thursday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $54.98. The firm’s 50-day simple moving average is $48.14 and its two-hundred day simple moving average is $43.44.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 3,756 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 $201,922.56. Following the completion of the sale, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the company’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 transaction of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares in the company, valued at approximately $3,620,198.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the sale, the insider now directly owns 89,268 shares in the company, 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 ninety days. 6.80% of the stock is currently owned by company insiders.

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.