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

Royal Bank of Canada reduced its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 98.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other large investors have also recently made changes to their positions in the stock. Danske Bank A S bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $39,000. Parallel Advisors LLC boosted its stake in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the period. Leonteq Securities AG grew its holdings in Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $56,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 751 shares during the period. 97.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RARE. Wells Fargo & Company raised their price objective on shares of Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Citigroup lifted their price objective on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Wedbush lowered their price target on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.

Insider Activity

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

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $25.81 on Wednesday. The firm’s fifty day moving average price is $28.41 and its 200-day moving average price is $25.06. The stock has a market cap of $2.54 billion, a P/E ratio of -4.42 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $39.89.

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