Van ECK Associates Corp Sells 457 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Van ECK Associates Corp lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 23.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,487 shares of the biopharmaceutical company’s stock after selling 457 shares during the period. Van ECK Associates Corp’s holdings in Ultragenyx Pharmaceutical were worth $81,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RARE. Headlands Technologies LLC bought a new stake in Ultragenyx Pharmaceutical in the first quarter valued at $28,000. nVerses Capital LLC bought a new stake in Ultragenyx Pharmaceutical in the second quarter valued at $33,000. UMB Bank n.a. boosted its holdings in Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 352 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $56,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 67.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 1,339 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on RARE shares. The Goldman Sachs Group boosted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. HC Wainwright boosted their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. TD Cowen lifted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $48.71 on Thursday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $36.51 and a fifty-two week high of $60.37. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -7.53 and a beta of 0.58. The business has a 50-day simple moving average of $54.64 and a two-hundred day simple moving average of $48.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the prior year, the firm earned ($2.23) EPS. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. As a group, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock valued at $1,515,967 in the last quarter. 5.80% of the stock is currently owned by 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.