BlackRock Inc. Buys Shares of 6,823,973 Oric Pharmaceuticals, Inc. $ORIC

Key Points

• BlackRock acquired 6.82 million shares of Oric Pharmaceuticals in the second quarter, worth approximately $73.9 million and representing a 6.58% stake. Institutional investors collectively own 95.05% of the company.
• Analyst sentiment is generally positive: 13 analysts rate ORIC a Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and a $19.45 target price.
• ORIC opened at $13.24, near its 52-week high of $14.93, while its latest quarterly loss of $0.38 per share narrowly missed the $0.36 consensus estimate. CFO Dominic Piscitelli separately sold 77,000 shares under a pre-arranged Rule 10b5-1 plan.

BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,823,973 shares of the company's stock, valued at approximately $73,904,000. BlackRock Inc. owned about 6.58% of Oric Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec grew its holdings in Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company's stock worth $33,000 after acquiring an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Oric Pharmaceuticals by 184.4% in the fourth 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. acquired a new position in Oric Pharmaceuticals in the third quarter valued at approximately $60,000. CANADA LIFE ASSURANCE Co purchased a new stake in Oric Pharmaceuticals in the 3rd quarter worth approximately $65,000. Finally, Engineers Gate Manager LP purchased a new stake in Oric Pharmaceuticals in the 4th quarter worth approximately $85,000. Institutional investors and hedge funds own 95.05% of the company's stock.

Insider Buying and Selling

In related news, CFO Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the transaction, the chief financial officer owned 69,828 shares in the company, valued at approximately $955,945.32. This trade represents a 52.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ORIC shares. 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. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They set a "buy" rating and a $14.00 target price on the stock. HC Wainwright raised their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Citigroup reduced their price target on Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.45.

Oric Pharmaceuticals Price Performance

Shares of ORIC opened at $13.24 on Monday. Oric Pharmaceuticals, Inc. has a 52-week low of $7.23 and a 52-week high of $14.93. The stock has a market cap of $1.37 billion, a PE ratio of -9.81 and a beta of 1.02. The firm's fifty day moving average is $11.85 and its two-hundred day moving average is $10.73.

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

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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