Fifth Third Bancorp Makes New Investment in Ultragenyx Pharmaceutical Inc. $RARE

Fifth Third Bancorp acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 1st quarter, HoldingsChannel reports. The fund acquired 110,272 shares of the biopharmaceutical company’s stock, valued at approximately $2,310,000.

Other hedge funds have also made changes to their positions in the company. Candriam S.C.A. boosted its holdings in Ultragenyx Pharmaceutical by 37.1% in the first quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company’s stock valued at $22,965,000 after purchasing an additional 296,798 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Ultragenyx Pharmaceutical by 74.0% during the first quarter. Hsbc Holdings PLC now owns 51,637 shares of the biopharmaceutical company’s stock worth $1,080,000 after purchasing an additional 21,958 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Ultragenyx Pharmaceutical during the first quarter worth approximately $4,575,000. Leonteq Securities AG lifted its position in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,333 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in shares of Ultragenyx Pharmaceutical by 63.0% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 99,995 shares of the biopharmaceutical company’s stock worth $2,095,000 after buying an additional 38,666 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RARE. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Cantor Fitzgerald lifted their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Morgan Stanley upped their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Guggenheim dropped their price objective on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.41.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares in the company, valued at approximately $528,429.75. This 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 19,319 shares of company stock worth $476,837 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Trading Up 0.3%

RARE stock opened at $28.62 on Wednesday. The company has a market capitalization of $2.82 billion, a P/E ratio of -4.68 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a twelve month low of $18.29 and a twelve month high of $39.89. The business has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $24.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). The business had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.57) earnings per share. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current fiscal year.

Ultragenyx Pharmaceutical Company 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.