Bank of New York Mellon Corp Takes Position in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Bank of New York Mellon initiated a position in Oric Pharmaceuticals, purchasing 220,080 shares valued at approximately $2.38 million. Institutional investors collectively own 95.05% of the company.
• Analyst sentiment is broadly positive: 12 analysts rate ORIC a Buy, with a consensus “Moderate Buy” rating and an average price target of $19.60.
• ORIC shares opened at $12.86, while the company reported a quarterly loss of $0.38 per share—$0.02 worse than estimates. CFO Dominic Piscitelli also sold 77,000 shares for about $1.05 million under a pre-arranged trading plan.

Bank of New York Mellon Corp bought a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 220,080 shares of the company's stock, valued at approximately $2,383,000. Bank of New York Mellon Corp owned about 0.21% of Oric Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Federation des caisses Desjardins du Quebec increased its holdings in Oric Pharmaceuticals by 100.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company's stock worth $33,000 after buying an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Oric Pharmaceuticals by 184.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company's stock valued at $37,000 after acquiring an additional 2,936 shares during the period. Russell Investments Group Ltd. bought a new position in Oric Pharmaceuticals during the 3rd quarter valued at about $60,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $65,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Oric Pharmaceuticals during the 4th quarter valued at about $85,000. Institutional investors own 95.05% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ORIC shares. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Friday, May 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a "buy" rating and a $14.00 target price for the company. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, Benchmark reissued a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.60.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $12.86 on Tuesday. The stock has a 50-day simple moving average of $12.28 and a two-hundred day simple moving average of $10.84. The firm has a market capitalization of $1.33 billion, a PE ratio of -9.53 and a beta of 1.00. Oric Pharmaceuticals, Inc. has a 52-week low of $7.23 and a 52-week high of $14.93.

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

Insider Buying and Selling

In other news, CFO Dominic Piscitelli sold 77,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total value of $1,054,130.00. Following the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. The trade was a 52.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by corporate insiders.

About Oric Pharmaceuticals

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.

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