Massachusetts Financial Services Co. MA Has $7.13 Million Stock Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Massachusetts Financial Services Co. MA cut its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 38.1% during the 4th quarter, HoldingsChannel reports. The firm owned 310,108 shares of the biopharmaceutical company’s stock after selling 191,055 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ultragenyx Pharmaceutical were worth $7,132,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 period. Creative Planning acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth $454,000. American Century Companies Inc. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth $366,000. M&T Bank Corp raised its holdings in Ultragenyx Pharmaceutical by 19.7% in the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 1,192 shares during the period. Finally, Amundi raised its holdings in Ultragenyx Pharmaceutical by 1,560.4% in the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock worth $3,913,000 after purchasing an additional 93,189 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial raised shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Guggenheim lowered their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, January 5th. HC Wainwright lowered their price objective on shares of Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group lowered their price objective on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.18.

Insiders Place Their Bets

In related news, EVP Karah Herdman Parschauer sold 8,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $185,478.00. Following the completion of the transaction, the executive vice president owned 76,346 shares of the company’s stock, valued at approximately $1,740,688.80. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 54,404 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the completion of the transaction, the chief executive officer directly owned 658,994 shares of the company’s stock, valued at approximately $15,025,063.20. This trade represents a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 109,556 shares of company stock valued at $2,490,138 in the last quarter. Company insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 2.6%

Shares of RARE stock opened at $24.52 on Friday. The firm has a fifty day moving average of $22.09 and a 200-day moving average of $27.46. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.29 and a 12-month high of $42.37. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -4.20 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.09). The company had revenue of $207.28 million for the quarter, compared to the consensus estimate of $199.60 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.39) EPS. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

About Ultragenyx Pharmaceutical

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.