141,117 Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Acquired by abrdn plc

abrdn plc bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RARE. Xponance Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 6.8% during the fourth quarter. Xponance Inc. now owns 10,162 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 648 shares during the period. Federated Hermes Inc. increased its stake in Ultragenyx Pharmaceutical by 11.4% during the 4th quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company’s stock valued at $116,992,000 after buying an additional 250,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ultragenyx Pharmaceutical by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,147 shares of the biopharmaceutical company’s stock worth $772,000 after buying an additional 2,011 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $246,000. Finally, WCM Investment Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 12.3% in the fourth quarter. WCM Investment Management LLC now owns 120,985 shares of the biopharmaceutical company’s stock valued at $5,840,000 after acquiring an additional 13,220 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $44.24 on Friday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The firm’s 50 day simple moving average is $47.89 and its 200-day simple moving average is $43.75. The company has a market cap of $3.64 billion, a P/E ratio of -5.31 and a beta of 0.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.65) by $0.13. The firm had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.16) EPS. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.38 EPS for the current fiscal year.

Insider Activity

In related news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on RARE. Robert W. Baird boosted their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.08.

Ultragenyx Pharmaceutical Company 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.