Oric Pharmaceuticals, Inc. $ORIC Position Reduced by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC reduced its stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,497 shares of the company’s stock after selling 180,957 shares during the period. ArrowMark Colorado Holdings LLC owned about 1.13% of Oric Pharmaceuticals worth $13,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Assetmark Inc. bought a new position in shares of Oric Pharmaceuticals during the third quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Oric Pharmaceuticals by 36.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after buying an additional 1,009 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals in the third quarter valued at about $60,000. KLP Kapitalforvaltning AS acquired a new stake in Oric Pharmaceuticals during the third quarter valued at approximately $85,000. Finally, Creative Planning acquired a new stake in Oric Pharmaceuticals during the second quarter valued at approximately $113,000. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Stock Up 1.2%

Shares of ORIC stock opened at $11.90 on Friday. The business has a 50 day moving average of $11.32 and a two-hundred day moving average of $11.24. Oric Pharmaceuticals, Inc. has a 52 week low of $3.90 and a 52 week high of $14.93. The company has a market cap of $1.19 billion, a P/E ratio of -7.83 and a beta of 1.28.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 33,374 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the sale, the chief executive officer directly owned 581,711 shares in the company, valued at approximately $5,270,301.66. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the transaction, the insider directly owned 68,149 shares of the company’s stock, valued at approximately $617,429.94. This trade represents a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 106,814 shares of company stock worth $1,199,135 in the last three months. 6.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen raised Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Monday, March 9th. JPMorgan Chase & Co. upped their price target on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Citigroup raised their price objective on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Evercore assumed coverage on shares of Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective for the company. Eleven equities research 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 MarketBeat.com, Oric Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Oric Pharmaceuticals Company 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.