Oric Pharmaceuticals, Inc. $ORIC Shares Sold by EcoR1 Capital LLC

EcoR1 Capital LLC lowered its position in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 52.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,618,068 shares of the company’s stock after selling 1,800,000 shares during the period. Oric Pharmaceuticals makes up approximately 1.0% of EcoR1 Capital LLC’s portfolio, making the stock its 21st largest position. EcoR1 Capital LLC’s holdings in Oric Pharmaceuticals were worth $16,423,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alkeon Capital Management LLC grew its position in Oric Pharmaceuticals by 12.5% in the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after acquiring an additional 500,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Oric Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company’s stock valued at $17,945,000 after purchasing an additional 12,098 shares during the last quarter. Vivo Capital LLC grew its holdings in shares of Oric Pharmaceuticals by 50.3% during the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after purchasing an additional 1,046,154 shares during the period. MPM Bioimpact LLC increased its position in shares of Oric Pharmaceuticals by 23.6% during the 2nd quarter. MPM Bioimpact LLC now owns 1,729,378 shares of the company’s stock worth $17,553,000 after purchasing an additional 329,864 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after purchasing an additional 1,299,799 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Insider Activity

In other news, CEO Jacob Chacko sold 37,461 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the transaction, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares in the company, valued at $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 261,000 shares of company stock worth $3,024,703. 6.82% of the stock is owned by company insiders.

Oric Pharmaceuticals Stock Down 3.2%

Oric Pharmaceuticals stock opened at $9.38 on Friday. Oric Pharmaceuticals, Inc. has a 52-week low of $3.90 and a 52-week high of $14.93. The firm has a market cap of $913.51 million, a PE ratio of -5.42 and a beta of 1.32. The company’s 50 day moving average is $12.27 and its two-hundred day moving average is $10.91.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. On average, equities research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ORIC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Wells Fargo & Company increased their price objective on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday. Guggenheim started coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $18.00 target price for the company. Wolfe Research initiated coverage on Oric Pharmaceuticals in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

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.