Vivo Capital LLC Cuts Stake in Oric Pharmaceuticals, Inc. $ORIC

Vivo Capital LLC reduced its holdings in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,848,786 shares of the company’s stock after selling 269,598 shares during the period. Oric Pharmaceuticals comprises approximately 1.9% of Vivo Capital LLC’s portfolio, making the stock its 17th biggest holding. Vivo Capital LLC owned about 1.79% of Oric Pharmaceuticals worth $23,424,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Oric Pharmaceuticals by 105.5% in the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock worth $13,217,000 after acquiring an additional 535,649 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Oric Pharmaceuticals by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 48,369 shares of the company’s stock valued at $613,000 after purchasing an additional 14,410 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Oric Pharmaceuticals by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 182,139 shares of the company’s stock valued at $2,308,000 after purchasing an additional 53,490 shares during the last quarter. Quantinno Capital Management LP raised its position in Oric Pharmaceuticals by 9.3% in the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock worth $323,000 after purchasing an additional 2,170 shares during the period. Finally, SummitTX Capital L.P. purchased a new position in Oric Pharmaceuticals in the 1st quarter worth $538,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ORIC shares. Benchmark reiterated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Citigroup dropped their price objective on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.27.

Oric Pharmaceuticals Stock Up 3.2%

Shares of Oric Pharmaceuticals stock opened at $11.64 on Friday. The business has a 50 day moving average of $9.67 and a 200 day moving average of $10.40. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93. The company has a market cap of $1.20 billion, a PE ratio of -8.08 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, research analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.