Oric Pharmaceuticals, Inc. $ORIC Shares Sold by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. lessened its stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 93.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,480 shares of the company’s stock after selling 306,175 shares during the quarter. Sectoral Asset Management Inc.’s holdings in Oric Pharmaceuticals were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ORIC. Orbimed Advisors LLC increased its stake in shares of Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after acquiring an additional 2,742,475 shares during the period. Vanguard Group Inc. increased its stake in shares of Oric Pharmaceuticals by 48.8% during the third 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. Royce & Associates LP increased its stake in shares of Oric Pharmaceuticals by 521.2% during the third quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after acquiring an additional 1,223,709 shares during the period. Eventide Asset Management LLC acquired a new position in shares of Oric Pharmaceuticals during the second quarter valued at approximately $9,657,000. Finally, Blue Owl Capital Holdings LP acquired a new position in shares of Oric Pharmaceuticals during the fourth quarter valued at approximately $4,213,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 52,000 shares of Oric Pharmaceuticals stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total transaction of $702,520.00. Following the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $920,679.48. The trade was a 43.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.70% of the company’s stock.

Oric Pharmaceuticals Stock Performance

Oric Pharmaceuticals stock opened at $8.32 on Monday. The firm has a market cap of $861.29 million, a price-to-earnings ratio of -5.78 and a beta of 1.11. Oric Pharmaceuticals, Inc. has a 1 year low of $5.51 and a 1 year high of $14.93. The firm’s 50 day moving average price is $10.04 and its two-hundred day moving average price is $10.59.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, equities analysts predict that Oric Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Citigroup decreased their price target on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Oppenheimer restated an “outperform” rating and issued a $15.00 price target on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.36.

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.