Y Intercept Hong Kong Ltd Sells 229,431 Shares of Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Y Intercept Hong Kong Ltd cut its Oric Pharmaceuticals stake by 67.2% in the first quarter, selling 229,431 shares and leaving it with 111,992 shares worth about $1.42 million.
• Institutional ownership remains high, with 95.05% of Oric Pharmaceuticals stock held by institutions and hedge funds, while several major investors recently increased their positions.
• Analyst sentiment is mostly positive: Oric has a Moderate Buy consensus rating with an average price target of $19.27, even though the stock closed down 0.8% to $10.85 and the company recently missed earnings expectations.

Y Intercept Hong Kong Ltd trimmed its holdings in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 67.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,992 shares of the company's stock after selling 229,431 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.11% of Oric Pharmaceuticals worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Orbimed Advisors LLC boosted its holdings in shares of Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock worth $43,701,000 after buying an additional 2,742,475 shares in the last quarter. Paradigm Biocapital Advisors LP bought a new stake in shares of Oric Pharmaceuticals in the 4th quarter valued at $19,642,000. State Street Corp increased its stake in shares of Oric Pharmaceuticals by 77.1% in the 4th quarter. State Street Corp now owns 4,258,397 shares of the company's stock valued at $34,834,000 after acquiring an additional 1,854,458 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Oric Pharmaceuticals by 48.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company's stock valued at $55,802,000 after acquiring an additional 1,525,445 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Oric Pharmaceuticals by 114.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,939,285 shares of the company's stock valued at $15,863,000 after acquiring an additional 1,034,473 shares during the period. 95.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They issued a "buy" rating and a $14.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Benchmark reissued a "buy" rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. The Goldman Sachs Group upgraded Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Friday, May 15th. Finally, Citigroup decreased their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.27.

Oric Pharmaceuticals Stock Down 0.8%

ORIC stock traded down $0.09 during midday trading on Friday, reaching $10.85. 1,058,241 shares of the company's stock traded hands, compared to its average volume of 1,649,456. The firm's fifty day moving average price is $9.00 and its 200-day moving average price is $10.11. 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 $1.12 billion, a price-to-earnings ratio of -7.53 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). Analysts forecast that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

About Oric Pharmaceuticals

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.

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