Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Bought by abrdn plc

abrdn plc lifted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,125 shares of the biopharmaceutical company's stock after purchasing an additional 63,821 shares during the quarter. abrdn plc owned about 0.34% of Ultragenyx Pharmaceutical worth $13,341,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RARE. China Universal Asset Management Co. Ltd. raised its holdings in Ultragenyx Pharmaceutical by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,580 shares of the biopharmaceutical company's stock valued at $824,000 after buying an additional 1,854 shares during the period. R Squared Ltd acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $103,000. KBC Group NV boosted its holdings in Ultragenyx Pharmaceutical by 2,275.8% in the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock valued at $2,567,000 after purchasing an additional 58,442 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock worth $928,000 after purchasing an additional 294 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Ultragenyx Pharmaceutical by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock valued at $1,658,000 after purchasing an additional 3,246 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Trading Down 2.7 %

Shares of Ultragenyx Pharmaceutical stock traded down $1.20 on Tuesday, reaching $43.58. 571,652 shares of the stock were exchanged, compared to its average volume of 911,006. The business has a fifty day moving average price of $43.94 and a two-hundred day moving average price of $49.65. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The firm has a market capitalization of $4.02 billion, a PE ratio of -6.74 and a beta of 0.60.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RARE. Wedbush reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, October 21st. HC Wainwright reissued a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.43.

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.