Vivo Capital LLC Increases Stock Position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)

Key Points

• Vivo Capital LLC increased its stake in Oric Pharmaceuticals by 62.8%, owning over 2 million shares worth approximately $11.6 million after purchasing an additional 802,632 shares in the first quarter.
• Other institutional investors have also raised their positions in Oric Pharmaceuticals, with 95.05% of the stock currently held by institutional investors.
• Analyst ratings for Oric Pharmaceuticals show a consensus of "Buy" with an average target price of $18.57, despite recent price adjustments by some firms.

Vivo Capital LLC lifted its position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,080,450 shares of the company's stock after purchasing an additional 802,632 shares during the period. Oric Pharmaceuticals comprises about 1.5% of Vivo Capital LLC's portfolio, making the stock its 11th biggest holding. Vivo Capital LLC owned about 2.93% of Oric Pharmaceuticals worth $11,609,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Oric Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock worth $17,945,000 after acquiring an additional 12,098 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in Oric Pharmaceuticals in the 4th quarter worth $13,982,000. NEA Management Company LLC increased its holdings in Oric Pharmaceuticals by 4.4% in the 4th quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock worth $12,638,000 after acquiring an additional 66,081 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Oric Pharmaceuticals by 37.5% in the 4th 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 in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Oric Pharmaceuticals by 3.0% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,395,352 shares of the company's stock worth $11,260,000 after acquiring an additional 40,844 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Oric Pharmaceuticals Stock Down 4.0%

Shares of Oric Pharmaceuticals stock traded down $0.39 during trading hours on Friday, reaching $9.24. 1,049,844 shares of the company's stock were exchanged, compared to its average volume of 1,212,354. Oric Pharmaceuticals, Inc. has a 1 year low of $3.90 and a 1 year high of $14.67. The company has a market capitalization of $787.47 million, a P/E ratio of -4.94 and a beta of 1.69. The business has a fifty day moving average of $10.23 and a two-hundred day moving average of $8.12.

Insider Transactions at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the sale, the chief financial officer owned 68,317 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Director Angie You acquired 26,597 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $9.39 per share, with a total value of $249,745.83. Following the acquisition, the director directly owned 26,597 shares of the company's stock, valued at $249,745.83. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 40,000 shares of company stock valued at $416,289 in the last three months. 6.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ORIC has been the subject of several recent analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $21.00 price target on shares of Oric Pharmaceuticals in a report on Monday, May 5th. Oppenheimer cut their price target on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wedbush reissued an "outperform" rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Oric Pharmaceuticals has an average rating of "Buy" and a consensus price target of $18.57.

Oric Pharmaceuticals Company 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.