Royal Bank of Canada Decreases Position in Ultragenyx Pharmaceutical Inc. $RARE

Royal Bank of Canada cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 98.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the biopharmaceutical company’s stock after selling 159,932 shares during the period. Royal Bank of Canada’s holdings in Ultragenyx Pharmaceutical were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares during the last quarter. Leonteq Securities AG increased its holdings in shares of Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,333 shares during the period. Danske Bank A S bought a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $39,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $56,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 43.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 751 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Trading Up 2.4%

NASDAQ:RARE opened at $25.81 on Wednesday. The company has a 50-day moving average price of $28.41 and a 200-day moving average price of $25.06. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -4.42 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter in the previous year, the company earned ($1.17) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% on a year-over-year basis. Equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on RARE shares. Citigroup raised their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada boosted their price objective on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Cantor Fitzgerald increased their price objective on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Guggenheim cut their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.