Rhumbline Advisers Decreases Stock Position in Oric Pharmaceuticals, Inc. $ORIC

Rhumbline Advisers reduced its holdings in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,753 shares of the company’s stock after selling 4,566 shares during the quarter. Rhumbline Advisers owned 0.12% of Oric Pharmaceuticals worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Alkeon Capital Management LLC lifted its stake in Oric Pharmaceuticals by 2.6% during the first quarter. Alkeon Capital Management LLC now owns 4,004,096 shares of the company’s stock worth $22,343,000 after purchasing an additional 100,000 shares during the last quarter. Vanguard Group Inc. increased its position in Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company’s stock worth $17,945,000 after buying an additional 12,098 shares during the period. Vivo Capital LLC increased its position in Oric Pharmaceuticals by 62.8% in the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company’s stock worth $11,609,000 after buying an additional 802,632 shares during the period. MPM Bioimpact LLC acquired a new stake in Oric Pharmaceuticals in the first quarter worth $7,809,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Oric Pharmaceuticals by 1,331.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock worth $2,841,000 after buying an additional 473,600 shares during the period. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORIC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Guggenheim initiated coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective for the company. Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright lowered their price target on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Oric Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $17.29.

Oric Pharmaceuticals Trading Down 3.1%

ORIC stock opened at $10.48 on Wednesday. The firm has a market capitalization of $1.02 billion, a PE ratio of -5.54 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67. The business’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $8.32.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). As a group, sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Oric Pharmaceuticals Company Profile

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.