Northern Trust Corp lifted its position in Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) by 6.7% in the 2nd quarter, Holdings Channel reports. The firm owned 554,092 shares of the biopharmaceutical company’s stock after purchasing an additional 34,942 shares during the quarter. Northern Trust Corp’s holdings in Ultragenyx Pharmaceutical were worth $42,594,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $181,000. Hsbc Holdings PLC purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at approximately $213,000. Xact Kapitalforvaltning AB raised its position in Ultragenyx Pharmaceutical by 49.7% during the first quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock valued at $338,000 after acquiring an additional 2,200 shares in the last quarter. JBF Capital Inc. purchased a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $384,000. Finally, Strs Ohio raised its position in Ultragenyx Pharmaceutical by 358.3% during the second quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock valued at $422,000 after acquiring an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.
Shares of RARE opened at $66.16 on Wednesday. Ultragenyx Pharmaceutical Inc has a 12 month low of $41.67 and a 12 month high of $90.98. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -8.82 and a beta of 1.95.
Several brokerages recently weighed in on RARE. Zacks Investment Research cut Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Wedbush lifted their price target on Ultragenyx Pharmaceutical from $71.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, August 6th. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 10th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 29th. Finally, credit cut Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $67.00 to $80.00 in a research report on Thursday, June 21st. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Ultragenyx Pharmaceutical presently has a consensus rating of “Buy” and a consensus price target of $85.53.
In other Ultragenyx Pharmaceutical news, Director William Aliski sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $76.66, for a total value of $287,475.00. Following the sale, the director now directly owns 72,610 shares of the company’s stock, valued at $5,566,282.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Karah Herdman Parschauer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $78.53, for a total value of $392,650.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,000 shares of company stock worth $2,700,774. 8.40% of the stock is owned by corporate insiders.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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