Oak Ridge Investments LLC Reduces Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Oak Ridge Investments LLC decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,362 shares of the biopharmaceutical company’s stock after selling 1,260 shares during the quarter. Oak Ridge Investments LLC’s holdings in Ultragenyx Pharmaceutical were worth $730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Ultragenyx Pharmaceutical by 103.8% during the 2nd 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. Alkeon Capital Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $17,468,000. Finally, Ikarian Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $9,943,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $40.00 on Monday. The company has a market cap of $3.69 billion, a P/E ratio of -6.18 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37. The business has a fifty day moving average of $45.10 and a two-hundred day moving average of $49.63.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter last year, the business earned ($2.23) earnings per share. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. Sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush reaffirmed a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. TD Cowen lifted their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Piper Sandler increased their target price on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.29.

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.