Vivo Capital LLC Boosts Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Vivo Capital LLC raised its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 849,681 shares of the company’s stock after purchasing an additional 71,737 shares during the period. Vivo Capital LLC owned 1.26% of ORIC Pharmaceuticals worth $7,817,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Alkeon Capital Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after acquiring an additional 500,000 shares in the last quarter. Euclidean Capital LLC boosted its position in ORIC Pharmaceuticals by 32.4% in the 3rd quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after buying an additional 241,860 shares during the period. Strs Ohio purchased a new position in ORIC Pharmaceuticals in the 4th quarter valued at approximately $72,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth $58,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter worth $72,000. 95.05% of the stock is owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Up 0.8 %

Shares of NASDAQ ORIC traded up $0.08 on Thursday, hitting $9.68. The company had a trading volume of 48,688 shares, compared to its average volume of 534,492. ORIC Pharmaceuticals, Inc. has a 12-month low of $4.91 and a 12-month high of $16.65. The business has a 50 day moving average of $11.84 and a two-hundred day moving average of $9.96. The firm has a market capitalization of $652.63 million, a P/E ratio of -4.90 and a beta of 1.19.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of ORIC Pharmaceuticals in a research report on Friday, February 23rd. They issued an “overweight” rating for the company. HC Wainwright upped their price target on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Wedbush upped their price target on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Citigroup decreased their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $20.00.

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.