1,078,055 Shares of Oric Pharmaceuticals, Inc. $ORIC Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.08 million shares of Oric Pharmaceuticals in the second quarter, worth approximately $11.7 million and representing about 1.04% of the company. Institutional investors collectively own 95.05% of ORIC.
• Analyst sentiment remains generally positive, with 13 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $20.18.
• ORIC opened at $13.16 and recently reported a quarterly loss of $0.38 per share, missing estimates by $0.02. CFO Dominic Piscitelli also sold 77,000 shares for approximately $1.05 million under a pre-arranged trading plan.

Bank of America Corp DE acquired a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,078,055 shares of the company's stock, valued at approximately $11,675,000. Bank of America Corp DE owned about 1.04% of Oric Pharmaceuticals as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ORIC. Defilade Capital Management L.P. acquired a new stake in shares of Oric Pharmaceuticals during the 1st quarter valued at about $10,680,000. Blue Owl Capital Holdings LP acquired a new position in Oric Pharmaceuticals in the 2nd quarter worth about $4,332,000. Siren L.L.C. boosted its position in Oric Pharmaceuticals by 197.6% during the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock worth $37,987,000 after purchasing an additional 1,990,617 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Oric Pharmaceuticals by 19.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company's stock valued at $18,637,000 after buying an additional 244,060 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in Oric Pharmaceuticals in the 2nd quarter worth $73,904,000. Institutional investors and hedge funds own 95.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ORIC shares. Benchmark reiterated a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen raised Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 25th. BTIG Research started coverage on shares of Oric Pharmaceuticals in a research note on Wednesday. They set a "buy" rating and a $26.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They set a "buy" rating and a $14.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.18.

Oric Pharmaceuticals Stock Down 0.2%

Oric Pharmaceuticals stock opened at $13.16 on Friday. Oric Pharmaceuticals, Inc. has a 52-week low of $7.23 and a 52-week high of $14.93. The firm has a market cap of $1.36 billion, a PE ratio of -9.75 and a beta of 1.00. The company's 50 day moving average is $12.78 and its two-hundred day moving average is $10.85.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). On average, equities research analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the sale, the chief financial officer directly owned 69,828 shares of the company's stock, valued at approximately $955,945.32. This represents a 52.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.70% of the company's stock.

Oric Pharmaceuticals Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric's research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).

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