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

Vivo Capital LLC lowered its position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 12.7% in the 1st quarter, Holdings Channel reports. The fund owned 1,848,786 shares of the company’s stock after selling 269,598 shares during the quarter. Oric Pharmaceuticals accounts for 1.9% of Vivo Capital LLC’s holdings, making the stock its 17th biggest holding. Vivo Capital LLC’s holdings in Oric Pharmaceuticals were worth $23,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Oric Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after purchasing an additional 977 shares in the last quarter. California State Teachers Retirement System raised its holdings in Oric Pharmaceuticals by 3.9% in the fourth quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock worth $278,000 after purchasing an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Oric Pharmaceuticals by 1.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock worth $1,042,000 after purchasing an additional 1,985 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after buying an additional 2,000 shares during the period. Finally, Arizona State Retirement System lifted its position in Oric Pharmaceuticals by 21.0% during the fourth quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock valued at $99,000 after buying an additional 2,107 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORIC. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a “buy” rating and a $14.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Citigroup dropped their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Oric Pharmaceuticals Trading Up 3.2%

Shares of NASDAQ:ORIC opened at $11.64 on Friday. The stock has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $10.40. Oric Pharmaceuticals, Inc. has a 12-month low of $7.23 and a 12-month high of $14.93. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.08 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). As a group, equities research analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

Oric Pharmaceuticals 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.