Todays Report: The First Mercantile Trust Co. Sold shares of Ultragenyx Pharmaceutical Inc. (RARE)

The First Mercantile Trust Co. Sold shares of Ultragenyx Pharmaceutical Inc. (RARE)

First Mercantile Trust Co. cut its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 52.1% during the second quarter, Holdings Channel reports. The fund owned 2,300 shares of the biopharmaceutical company’s stock after selling 2,505 shares during the period. First Mercantile Trust Co.’s holdings in Ultragenyx Pharmaceutical were worth $112,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $34,393,000. Teachers Advisors Inc. raised its position in shares of Ultragenyx Pharmaceutical by 20.7% in the first quarter. Teachers Advisors Inc. now owns 164,447 shares of the biopharmaceutical company’s stock worth $10,411,000 after buying an additional 28,249 shares during the period. BlackRock Fund Advisors raised its position in shares of Ultragenyx Pharmaceutical by 1.6% in the first quarter. BlackRock Fund Advisors now owns 1,442,851 shares of the biopharmaceutical company’s stock worth $91,347,000 after buying an additional 23,389 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ultragenyx Pharmaceutical by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 257,531 shares of the biopharmaceutical company’s stock worth $16,305,000 after buying an additional 14,863 shares during the period. Finally, Palisade Capital Management LLC NJ raised its position in shares of Ultragenyx Pharmaceutical by 243.8% in the first quarter. Palisade Capital Management LLC NJ now owns 18,176 shares of the biopharmaceutical company’s stock worth $1,151,000 after buying an additional 12,889 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) opened at 70.84 on Friday. The firm’s market cap is $2.79 billion. Ultragenyx Pharmaceutical Inc. has a 52-week low of $46.52 and a 52-week high of $117.12. The company’s 50 day moving average is $69.83 and its 200 day moving average is $64.26.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.02. During the same period last year, the company earned ($0.83) EPS. Analysts anticipate that Ultragenyx Pharmaceutical Inc. will post ($5.96) earnings per share for the current year.

A number of research analysts recently commented on RARE shares. Leerink Swann reiterated an “outperform” rating and issued a $85.00 price target (up previously from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 10th. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, June 16th. Bank of America Corp. started coverage on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, June 28th. They issued a “buy” rating and a $72.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $92.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, June 28th. Finally, Piper Jaffray Cos. started coverage on shares of Ultragenyx Pharmaceutical in a research note on Thursday, July 7th. They issued an “overweight” rating and a $70.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ultragenyx Pharmaceutical presently has a consensus rating of “Buy” and an average price target of $98.25.

In other Ultragenyx Pharmaceutical news, insider Sunil Agarwal sold 649 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $52.68, for a total value of $34,189.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $50.85, for a total transaction of $1,017,000.00. Following the completion of the sale, the chief executive officer now directly owns 513,597 shares in the company, valued at approximately $26,116,407.45. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by company insiders.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment.

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