Parkman Healthcare Partners LLC Makes New $1.13 Million Investment in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Parkman Healthcare Partners LLC acquired 203,006 shares of Oric Pharmaceuticals valued at approximately $1.13 million, representing a 0.29% stake in the company.
• Several institutional investors, including Bank of America and Vivo Capital, have raised their stakes in Oric Pharmaceuticals, indicating strong institutional interest.
• Oric Pharmaceuticals reported a quarterly earnings loss of ($0.47) per share, missing analysts' estimates by ($0.01), and analysts forecast an average EPS of -2.17 for the current fiscal year.

Parkman Healthcare Partners LLC acquired a new stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 203,006 shares of the company's stock, valued at approximately $1,133,000. Parkman Healthcare Partners LLC owned about 0.29% of Oric Pharmaceuticals as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Oric Pharmaceuticals by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock worth $5,788,000 after acquiring an additional 103,237 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Oric Pharmaceuticals by 1,048.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock worth $118,000 after purchasing an additional 13,384 shares during the last quarter. Northern Trust Corp boosted its holdings in Oric Pharmaceuticals by 5.3% in the fourth quarter. Northern Trust Corp now owns 553,993 shares of the company's stock worth $4,471,000 after purchasing an additional 28,079 shares during the period. BNP Paribas Financial Markets bought a new stake in Oric Pharmaceuticals during the fourth quarter valued at $71,000. Finally, Bank of America Corp DE increased its stake in Oric Pharmaceuticals by 34.0% during the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company's stock valued at $908,000 after purchasing an additional 28,570 shares during the last quarter. Institutional investors own 95.05% of the company's stock.

Insider Activity

In related news, Director Angie You purchased 26,597 shares of the company's stock in a transaction on Friday, June 20th. The shares were bought at an average cost of $9.39 per share, for a total transaction of $249,745.83. Following the transaction, the director owned 26,597 shares of the company's stock, valued at $249,745.83. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Dominic Piscitelli sold 32,466 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total transaction of $340,893.00. Following the completion of the transaction, the chief financial officer owned 68,317 shares of the company's stock, valued at $717,328.50. This trade represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.82% of the stock is currently owned by company insiders.

Oric Pharmaceuticals Trading Up 3.2%

ORIC traded up $0.34 during trading hours on Thursday, hitting $10.86. The company's stock had a trading volume of 800,195 shares, compared to its average volume of 1,092,713. The company has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $8.14. The firm has a market capitalization of $1.05 billion, a PE ratio of -5.75 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.01). Research analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ORIC shares. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. Guggenheim began coverage on Oric Pharmaceuticals in a research note on Thursday, September 4th. They issued a "buy" rating and a $18.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. LADENBURG THALM/SH SH initiated coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a research note on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Oric Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $17.29.

Oric Pharmaceuticals 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.