abrdn plc Takes $6.75 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

abrdn plc bought a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 141,117 shares of the biopharmaceutical company's stock, valued at approximately $6,748,000. abrdn plc owned approximately 0.17% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its stake in Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 596 shares during the period. UMB Bank n.a. lifted its stake in Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 329 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Ultragenyx Pharmaceutical by 97.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company's stock valued at $65,000 after acquiring an additional 903 shares during the period. International Assets Investment Management LLC lifted its stake in Ultragenyx Pharmaceutical by 3,182.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company's stock valued at $80,000 after acquiring an additional 1,623 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Ultragenyx Pharmaceutical by 38.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company's stock valued at $95,000 after acquiring an additional 548 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares of the company's stock, valued at $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Matthew K. Fust sold 12,195 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the transaction, the director now owns 14,860 shares of the company's stock, valued at approximately $756,076.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Insiders sold 32,116 shares of company stock valued at $1,645,983 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded up $0.39 on Friday, hitting $44.24. The company had a trading volume of 450,422 shares, compared to its average volume of 704,581. Ultragenyx Pharmaceutical Inc. has a 12-month low of $31.52 and a 12-month high of $54.98. The company has a market capitalization of $3.64 billion, a PE ratio of -5.31 and a beta of 0.65. The company's fifty day moving average price is $47.80 and its 200-day moving average price is $43.81.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The business had revenue of $127.39 million during the quarter, compared to analyst estimates of $119.38 million. During the same quarter in the prior year, the firm earned ($2.16) earnings per share. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.38 EPS for the current year.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Wedbush reaffirmed a "neutral" rating and set a $48.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an "outperform" rating and a $77.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Finally, TD Cowen lifted their target price on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.08.

Ultragenyx Pharmaceutical 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.