Invesco Ltd. Grows Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Invesco Ltd. grew its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699,756 shares of the biopharmaceutical company’s stock after purchasing an additional 25,487 shares during the period. Invesco Ltd. owned approximately 1.84% of Ultragenyx Pharmaceutical worth $71,509,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter worth $42,000. Van ECK Associates Corp increased its stake in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $83,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RARE shares. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $34.92 on Tuesday. The stock’s 50-day moving average is $39.17 and its 200-day moving average is $44.67. The company has a market cap of $3.28 billion, a P/E ratio of -5.51 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 52-week low of $29.59 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the transaction, the executive vice president now directly owns 265,238 shares of the company’s stock, valued at $11,166,519.80. This represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,643 shares of company stock valued at $5,256,268. 5.80% of the stock is 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.