Hsbc Holdings PLC Acquires New Shares in Ultragenyx Pharmaceutical Inc. $RARE

Hsbc Holdings PLC bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 2nd quarter, HoldingsChannel reports. The firm bought 45,174 shares of the biopharmaceutical company’s stock, valued at approximately $1,534,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ultragenyx Pharmaceutical by 14.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 29,984 shares during the last quarter. Creative Planning purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $454,000. American Century Companies Inc. bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth about $366,000. M&T Bank Corp increased its holdings in Ultragenyx Pharmaceutical by 19.7% in the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 1,192 shares in the last quarter. Finally, Amundi raised its position in Ultragenyx Pharmaceutical by 1,560.4% in the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock worth $3,913,000 after buying an additional 93,189 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RARE has been the topic of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Citigroup increased their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $59.44.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owned 21,095 shares of the company’s stock, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $25.21 on Tuesday. The company has a market capitalization of $2.49 billion, a P/E ratio of -4.32 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $39.89. The firm’s 50 day simple moving average is $28.47 and its two-hundred day simple moving average is $25.04.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.17) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current fiscal 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.