On September 20, 2023, it was reported that DnB Asset Management AS had acquired a new position in shares of Ultragenyx Pharmaceutical Inc. This acquisition was revealed in the company’s most recent Form 13F filing with the Securities and Exchange Commission. According to the filing, DnB Asset Management AS purchased 11,826 shares of Ultragenyx Pharmaceutical stock, with an estimated value of $546,000.
Ultragenyx Pharmaceutical (NASDAQ:RARE) recently released its quarterly earnings data on August 3rd. The biopharmaceutical company reported earnings per share (EPS) of ($2.25) for the quarter, falling short of the consensus estimate by ($0.14). This decline may have been disappointing for investors and analysts. Ultragenyx Pharmaceutical also experienced negative net margins of 178.91% and a negative return on equity of 220.54%. Despite these figures, the company generated $108.30 million in revenue during the quarter, surpassing analyst estimates of $107.10 million. In comparison to the previous year’s quarter, Ultragenyx Pharmaceutical’s revenue increased by 21.3%.
Various analysts have provided their insights regarding Ultragenyx Pharmaceutical’s performance. Morgan Stanley reiterated its “overweight” rating and gave the stock a price target of $95.00 in a report published on August 4th. Likewise, StockNews.com initiated coverage on Ultragenyx Pharmaceutical on August 17th and assigned it a “hold” rating. Evercore ISI upgraded their rating for Ultragenyx Pharmaceutical from “in-line” to “outperform,” raising their target price from $60.00 to $80.00 in a research report on June 6th.
However, Wedbush downgraded their target price for Ultragenyx Pharmaceutical from $49.00 to $47.00 in a report published on August 4th. On the other hand, HC Wainwright restated a “buy” rating and provided a target price of $82.00 for Ultragenyx Pharmaceutical on August 1st. Overall, out of the total twelve analysts covering the stock, three have given it a hold rating while nine have issued buy ratings. According to Bloomberg, the average rating of the stock is “Moderate Buy” with an average target price of $81.21.
While investment analysts have expressed mixed opinions on Ultragenyx Pharmaceutical, it is essential to note that these views can greatly influence investor sentiment and impact the stock’s performance in the market. As always, investors are encouraged to thoroughly research and consider multiple sources before making any financial decisions based on this information.
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Institutional Investors Adjust Stakes in Ultragenyx Pharmaceutical, Insider Sales Reported
Institutional investors and hedge funds have been making adjustments to their stakes in Ultragenyx Pharmaceutical, a biopharmaceutical company. China Universal Asset Management Co. Ltd. increased its holdings in the company by 33.6% during the first quarter of this year, acquiring an additional 239 shares and bringing its total holdings to 951 shares worth $38,000. Lazard Asset Management LLC also raised its holdings by 36.6% during the same quarter, purchasing an extra 240 shares with a value of $64,000.
Amalgamated Bank acquired 251 more shares, representing a 1.7% increase in its holdings during the fourth quarter of last year. This brought its overall stake in Ultragenyx Pharmaceutical to 14,673 shares valued at $680,000. Chartwell Investment Partners LLC saw a 6.1% increase in its holdings during the same period after acquiring an additional 462 shares worth $374,000.
During the first quarter of this year, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings by 6.4%, obtaining an extra 468 shares with a value of $313,000.
Overall, it is reported that institutional investors own approximately 96.37% of Ultragenyx Pharmaceutical’s stock.
In recent news regarding Ultragenyx Pharmaceutical’s activities, Chief Accounting Officer Theodore Alan Huizenga sold 2,163 shares on September 7th for an average price of $40.80 per share. This totalled to a transaction worth $88,250.40.
Another executive who made a sale was Executive Vice President Erik Harris, who sold 6,000 shares on September 5th for an average price of $37.96 per share.The transaction amounted to approximately $227,760.
Both sales were disclosed through documents filed with the Securities & Exchange Commission and are available through provided hyperlinks.
It is also worth mentioning that in the last quarter, insiders have sold a total of 9,718 shares of the company’s stock, cumulatively valued at $379,401. As a result, corporate insiders currently hold approximately 6.80% of the company’s stock.
As of today, Ultragenyx Pharmaceutical’s stock opened at $36.39. It has a 50-day simple moving average of $39.44 and a 200-day simple moving average of $42.92. The company has a market capitalization of $2.60 billion and a beta of 0.87.
In conclusion, Ultragenyx Pharmaceutical is experiencing changes in its holdings by institutional investors and hedge funds, as well as insider sales by company executives. These developments may have an impact on the overall performance and dynamics of the biopharmaceutical company in the future.
