WCM Investment Management LLC Lowers Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

WCM Investment Management LLC cut its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 6.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 135,609 shares of the biopharmaceutical company’s stock after selling 9,740 shares during the period. WCM Investment Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $5,732,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. True Wealth Design LLC bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $43,000. Values First Advisors Inc. purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $83,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $93,000. Finally, R Squared Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $103,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RARE. TD Cowen lifted their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.43.

Ultragenyx Pharmaceutical Trading Down 0.9 %

RARE stock opened at $45.35 on Monday. The stock has a market cap of $4.19 billion, a PE ratio of -7.01 and a beta of 0.60. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The company has a 50-day moving average price of $44.00 and a 200 day moving average price of $49.65.

Insider Activity

In other news, CEO Emil D. Kakkis sold 8,273 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the transaction, the chief executive officer now directly owns 2,195,712 shares in the company, valued at approximately $109,785,600. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

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.