Massachusetts Financial Services Co. MA Trims Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Massachusetts Financial Services Co. MA cut its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,717 shares of the biopharmaceutical company’s stock after selling 41,656 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.54% of Ultragenyx Pharmaceutical worth $21,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 259.5% during the fourth 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 period. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $42,000. Van ECK Associates Corp increased its holdings in Ultragenyx Pharmaceutical by 18.4% in the 4th 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. Wilmington Savings Fund Society FSB acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth $83,000. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Ultragenyx Pharmaceutical during the third quarter worth $93,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the sale, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RARE. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler reduced their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Finally, Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $32.43 on Monday. The stock has a market cap of $3.04 billion, a PE ratio of -5.12 and a beta of 0.61. The stock’s fifty day moving average is $40.83 and its two-hundred day moving average is $45.93. Ultragenyx Pharmaceutical Inc. has a 1-year low of $32.07 and a 1-year high of $60.37.

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

Ultragenyx Pharmaceutical Company Profile

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.