Alkeon Capital Management LLC Buys 100,000 Shares of Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Alkeon Capital Management increased its stake in Oric Pharmaceuticals by 2.6%, owning 4,004,096 shares worth approximately $22.34 million after acquiring an additional 100,000 shares in the first quarter.
• Multiple institutional investors are showing interest in Oric Pharmaceuticals, with Vanguard Group increasing their stake by 0.4% and Vivo Capital raising their holdings by 62.8% during the same period.
• Wall Street analysts have mixed ratings on Oric Pharmaceuticals, with price targets ranging from $15.00 to $20.00, and the stock currently has a consensus rating of "Moderate Buy" with an average price target of $17.63.

Alkeon Capital Management LLC boosted its stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,004,096 shares of the company's stock after purchasing an additional 100,000 shares during the period. Alkeon Capital Management LLC owned about 5.63% of Oric Pharmaceuticals worth $22,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORIC. Vanguard Group Inc. increased its stake in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock worth $17,945,000 after purchasing an additional 12,098 shares in the last quarter. Vivo Capital LLC raised its holdings in Oric Pharmaceuticals by 62.8% during the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock valued at $11,609,000 after acquiring an additional 802,632 shares during the period. NEA Management Company LLC lifted its position in shares of Oric Pharmaceuticals by 4.4% in the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock valued at $12,638,000 after acquiring an additional 66,081 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Oric Pharmaceuticals by 37.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company's stock worth $12,551,000 after acquiring an additional 424,194 shares during the period. Finally, MPM Bioimpact LLC purchased a new stake in shares of Oric Pharmaceuticals during the first quarter worth about $7,809,000. Hedge funds and other institutional investors own 95.05% of the company's stock.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total transaction of $340,893.00. Following the sale, the chief financial officer directly owned 68,317 shares in the company, valued at $717,328.50. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Angie You acquired 26,597 shares of the stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $9.39 per share, with a total value of $249,745.83. Following the completion of the purchase, the director directly owned 26,597 shares in the company, valued at approximately $249,745.83. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 40,000 shares of company stock valued at $416,289. 5.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ORIC. HC Wainwright lowered their price target on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Wedbush reaffirmed an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. Guggenheim reiterated a "buy" rating and issued a $18.00 price target on shares of Oric Pharmaceuticals in a report on Wednesday, August 13th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Oric Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $17.63.

Oric Pharmaceuticals Stock Performance

Shares of ORIC opened at $10.23 on Tuesday. The stock has a market capitalization of $993.54 million, a PE ratio of -5.41 and a beta of 1.63. The company's fifty day moving average is $10.38 and its 200 day moving average is $8.01. Oric Pharmaceuticals, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.01). As a group, research analysts forecast that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Oric Pharmaceuticals Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.

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