Federated Hermes Inc. Decreases Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Federated Hermes Inc. cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,049,800 shares of the biopharmaceutical company’s stock after selling 60,900 shares during the quarter. Federated Hermes Inc. owned 2.22% of Ultragenyx Pharmaceutical worth $86,235,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. ExodusPoint Capital Management LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $3,661,000. Cinctive Capital Management LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 295.9% in the 4th quarter. Cinctive Capital Management LP now owns 62,960 shares of the biopharmaceutical company’s stock valued at $2,649,000 after acquiring an additional 47,058 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter worth about $451,000. Franklin Resources Inc. increased its stake in Ultragenyx Pharmaceutical by 95.2% during the fourth quarter. Franklin Resources Inc. now owns 427,359 shares of the biopharmaceutical company’s stock worth $17,979,000 after acquiring an additional 208,456 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock valued at $68,487,000 after purchasing an additional 81,667 shares during the period. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $32.43 on Monday. The stock has a 50 day moving average price of $40.83 and a 200 day moving average price of $45.93. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.12 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 52-week low of $32.07 and a 52-week 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 firm had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now directly owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical 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 transaction, the chief financial officer now owns 106,169 shares in the company, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock worth $5,256,268 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RARE. Wedbush reissued a “neutral” rating and set a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Piper Sandler cut their price objective 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. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lifted their price target 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 upped their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $92.79.

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.