Metropolitan Life Insurance Co NY Has $349,000 Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Metropolitan Life Insurance Co NY boosted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 21,435.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,661 shares of the biopharmaceutical company’s stock after purchasing an additional 3,644 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Ultragenyx Pharmaceutical were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in Ultragenyx Pharmaceutical by 3.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,999,214 shares of the biopharmaceutical company’s stock worth $1,048,775,000 after buying an additional 327,428 shares in the last quarter. Capital International Investors boosted its stake in shares of Ultragenyx Pharmaceutical by 0.6% in the 2nd quarter. Capital International Investors now owns 5,457,124 shares of the biopharmaceutical company’s stock valued at $520,349,000 after purchasing an additional 33,002 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 24.5% in the 2nd quarter. Clearbridge Investments LLC now owns 2,370,520 shares of the biopharmaceutical company’s stock valued at $226,029,000 after purchasing an additional 467,125 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Ultragenyx Pharmaceutical by 3.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,181,847 shares of the biopharmaceutical company’s stock valued at $112,689,000 after purchasing an additional 34,414 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 859,857 shares of the biopharmaceutical company’s stock valued at $81,989,000 after purchasing an additional 37,942 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Ultragenyx Pharmaceutical stock opened at $77.58 on Thursday. Ultragenyx Pharmaceutical Inc. has a 52-week low of $74.11 and a 52-week high of $179.65. The stock’s 50 day moving average price is $87.39. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -14.67 and a beta of 1.70.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 2nd. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.35. Ultragenyx Pharmaceutical had a negative net margin of 98.89% and a negative return on equity of 38.25%. During the same quarter last year, the business posted ($1.13) earnings per share. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.4 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on RARE shares. Wedbush reduced their price target on shares of Ultragenyx Pharmaceutical from $106.00 to $91.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 3rd. TheStreet downgraded shares of Ultragenyx Pharmaceutical from a “c-” rating to a “d” rating in a research note on Tuesday, August 17th. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $178.00 to $141.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 3rd. UBS Group began coverage on shares of Ultragenyx Pharmaceutical in a research note on Thursday, August 19th. They issued a “sell” rating and a $73.00 price target on the stock. Finally, HC Wainwright began coverage on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 30th. They issued a “buy” rating and a $106.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $135.75.

In related news, insider John Richard Pinion sold 358 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 14th. The shares were sold at an average price of $81.14, for a total value of $29,048.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karah Herdman Parschauer sold 7,336 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $100.65, for a total transaction of $738,368.40. Following the completion of the sale, the executive vice president now directly owns 36,004 shares of the company’s stock, valued at approximately $3,623,802.60. The disclosure for this sale can be found here. Insiders sold a total of 17,431 shares of company stock valued at $1,610,504 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. Mepsevii is an intravenous, which is used for the treatment of Mucopolysaccharidosis VII.

Read More: Correction

Want to see what other hedge funds are holding RARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE).

Institutional Ownership by Quarter for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Receive News & Ratings for Ultragenyx Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.