Legal & General Group Plc Makes New $19.58 Million Investment in Ultragenyx Pharmaceutical Inc. $RARE

Legal & General Group Plc bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 586,520 shares of the biopharmaceutical company’s stock, valued at approximately $19,584,000. Legal & General Group Plc owned about 0.59% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Ultragenyx Pharmaceutical by 14.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock valued at $8,414,000 after purchasing an additional 29,984 shares in the last quarter. Creative Planning purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $454,000. American Century Companies Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at about $366,000. M&T Bank Corp raised its position in shares of Ultragenyx Pharmaceutical by 19.7% in the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock valued at $263,000 after buying an additional 1,192 shares during the last quarter. Finally, Amundi raised its position in shares of Ultragenyx Pharmaceutical by 1,560.4% in the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock valued at $3,913,000 after buying an additional 93,189 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RARE shares. Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Canaccord Genuity Group upped their price target on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.44.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,653 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the sale, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at $2,512,227.53. This represents a 4.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director owned 21,095 shares in the company, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,552 shares of company stock worth $207,455 over the last three months. Company insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE opened at $25.61 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -4.39 and a beta of 0.35. The firm’s 50-day moving average is $28.55 and its two-hundred day moving average is $25.03. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter last year, the company posted ($1.17) EPS. The firm’s quarterly revenue was up 28.5% on a year-over-year basis. As a group, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current year.

Ultragenyx Pharmaceutical Profile

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.