abrdn plc Sells 31,441 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

abrdn plc decreased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,304 shares of the biopharmaceutical company's stock after selling 31,441 shares during the quarter. abrdn plc owned about 0.30% of Ultragenyx Pharmaceutical worth $14,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company's stock worth $406,203,000 after purchasing an additional 26,575 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company's stock worth $166,632,000 after acquiring an additional 120,175 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Ultragenyx Pharmaceutical by 0.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company's stock worth $112,096,000 after acquiring an additional 17,362 shares in the last quarter. Federated Hermes Inc. lifted its position in Ultragenyx Pharmaceutical by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company's stock valued at $86,599,000 after acquiring an additional 168,345 shares during the period. Finally, Millennium Management LLC boosted its stake in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock worth $76,065,000 after acquiring an additional 942,529 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE remained flat at $50.99 during mid-day trading on Friday. 680,606 shares of the stock traded hands, compared to its average volume of 589,398. The company has a market cap of $4.70 billion, a PE ratio of -6.98 and a beta of 0.58. The business has a 50-day moving average price of $55.70 and a 200-day moving average price of $47.90. Ultragenyx Pharmaceutical Inc. has a 1 year low of $34.06 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping analysts' consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm's revenue was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.25) EPS. Equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Barclays lowered their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Wedbush raised their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.08.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company's stock, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company's stock, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the transaction, the chief executive officer now owns 2,243,985 shares in the company, valued at $112,580,727.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,556 shares of company stock valued at $2,519,367 over the last 90 days. Company insiders own 5.80% of the company's stock.

About Ultragenyx Pharmaceutical

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.