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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Oric Pharmaceuticals in the fourth quarter worth about $50,000. Arizona State Retirement System purchased a new stake in Oric Pharmaceuticals in the first quarter worth about $56,000. BNP Paribas Financial Markets purchased a new stake in Oric Pharmaceuticals in the fourth quarter worth about $71,000. Legato Capital Management LLC purchased a new stake in Oric Pharmaceuticals in the first quarter worth about $109,000. Finally, Tower Research Capital LLC TRC grew its holdings in Oric Pharmaceuticals by 1,048.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock worth $118,000 after purchasing an additional 13,384 shares during the period. 95.05% of the stock is owned by institutional investors.

Oric Pharmaceuticals Trading Up 1.9%

ORIC stock traded up $0.18 on Tuesday, hitting $9.38. The company had a trading volume of 236,152 shares, compared to its average volume of 1,119,779. Oric Pharmaceuticals, Inc. has a 12-month low of $3.90 and a 12-month high of $14.67. The stock's 50-day simple moving average is $10.24 and its 200 day simple moving average is $8.10. The stock has a market cap of $798.94 million, a price-to-earnings ratio of -5.01 and a beta of 1.69.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ORIC shares. Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. LADENBURG THALM/SH SH started coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $21.00 price objective 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 on the stock in a report on Tuesday, May 6th. Finally, Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $18.57.

Insider Activity at Oric Pharmaceuticals

In related news, Director Angie You bought 26,597 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the completion of the acquisition, the director owned 26,597 shares of the company's stock, valued at $249,745.83. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the 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 completion of the transaction, the chief financial officer owned 68,317 shares in the company, valued at $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $416,289 in the last 90 days. 5.55% of the stock is currently owned by corporate insiders.

About Oric Pharmaceuticals

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.