Ultragenyx Pharmaceutical Inc. $RARE Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 75.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,060 shares of the biopharmaceutical company’s stock after selling 1,553,441 shares during the quarter. Federated Hermes Inc.’s holdings in Ultragenyx Pharmaceutical were worth $14,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd raised its holdings in Ultragenyx Pharmaceutical by 31.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 67,834 shares of the biopharmaceutical company’s stock worth $2,040,000 after purchasing an additional 16,096 shares during the last quarter. Covestor Ltd grew its holdings in Ultragenyx Pharmaceutical by 26.0% in the third quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 369 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Ultragenyx Pharmaceutical by 1.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,394 shares of the biopharmaceutical company’s stock valued at $2,749,000 after buying an additional 1,168 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ultragenyx Pharmaceutical by 10.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,814 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 966 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Ultragenyx Pharmaceutical by 6.9% during the 3rd quarter. Amalgamated Bank now owns 7,226 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analysts Set New Price Targets

RARE has been the topic of a number of research reports. Guggenheim lowered their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. TD Cowen reduced their price target on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Truist Financial lowered their price target on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Jefferies Financial Group cut their price objective on Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, December 30th. Finally, HC Wainwright reduced their target price on Ultragenyx Pharmaceutical from $80.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Sixteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.29.

Insider Buying and Selling

In related news, CFO Howard Horn sold 3,081 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total transaction of $112,086.78. Following the transaction, the chief financial officer directly owned 95,146 shares in the company, valued at approximately $3,461,411.48. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $24.07 on Friday. The firm has a market cap of $2.32 billion, a P/E ratio of -4.05 and a beta of 0.15. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.41 and a 1 year high of $46.50. The firm’s 50 day moving average price is $29.03 and its 200 day moving average price is $29.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The business had revenue of $159.93 million for the quarter, compared to analysts’ expectations of $167.42 million. During the same period in the prior year, the company earned ($1.40) EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

About Ultragenyx Pharmaceutical

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.