Federated Hermes Inc. Trims Stock Position in Ultragenyx Pharmaceutical Inc. $RARE

Federated Hermes Inc. decreased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 75.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 496,060 shares of the biopharmaceutical company’s stock after selling 1,553,441 shares during the period. Federated Hermes Inc. owned 0.51% of Ultragenyx Pharmaceutical worth $14,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RARE. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $35,765,000. Hsbc Holdings PLC grew its position in Ultragenyx Pharmaceutical by 88.6% during the 2nd quarter. Hsbc Holdings PLC now owns 97,197 shares of the biopharmaceutical company’s stock worth $3,554,000 after purchasing an additional 45,665 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Ultragenyx Pharmaceutical by 108.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 67,720 shares of the biopharmaceutical company’s stock worth $2,462,000 after purchasing an additional 35,185 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in Ultragenyx Pharmaceutical by 49.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 983,715 shares of the biopharmaceutical company’s stock valued at $35,768,000 after purchasing an additional 325,000 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Ultragenyx Pharmaceutical by 27.2% in the second quarter. Schroder Investment Management Group now owns 336,173 shares of the biopharmaceutical company’s stock valued at $12,223,000 after buying an additional 71,888 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Down 0.8%

Shares of RARE stock opened at $24.07 on Friday. The stock has a 50 day simple moving average of $29.03 and a 200-day simple moving average of $29.98. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -4.05 and a beta of 0.15. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.41 and a 12-month high of $46.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted 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). The business had revenue of $159.93 million during the quarter, compared to analysts’ expectations of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.40) earnings per share. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 3,081 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $36.38, for a total value of $112,086.78. Following the completion of the transaction, the chief financial officer owned 95,146 shares in the company, valued at $3,461,411.48. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RARE. Robert W. Baird lowered their price target on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, December 30th. Bank of America decreased their price objective on Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, January 2nd. TD Cowen lowered their target price on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their target price on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, December 30th. Finally, Truist Financial cut their price target on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Sixteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.29.

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.