Braidwell LP Acquires 86,500 Shares of Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Braidwell LP increased its Oric Pharmaceuticals stake by 7.7%, adding 86,500 shares to own 1.21 million shares valued at approximately $13.2 million. Institutional investors collectively hold 95.05% of the company.
• Analyst sentiment is broadly positive: 13 analysts rate ORIC a Buy, one rates it Hold and one Sell, resulting in a “Moderate Buy” consensus and a $19.45 average price target.
• ORIC shares opened at $13.13, near their 52-week high of $14.93, while the company reported a quarterly loss of $0.38 per share—$0.02 worse than estimates. CFO Dominic Piscitelli separately sold 77,000 shares under a pre-arranged trading plan.

Braidwell LP boosted its holdings in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,214,540 shares of the company's stock after purchasing an additional 86,500 shares during the period. Braidwell LP owned about 1.17% of Oric Pharmaceuticals worth $13,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Federation des caisses Desjardins du Quebec increased its stake in shares of 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 valued at $33,000 after buying an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 in the last quarter. Quantbot Technologies LP bought a new stake in Oric Pharmaceuticals in the second quarter valued at $46,000. Russell Investments Group Ltd. purchased a new position in Oric Pharmaceuticals during the 3rd quarter valued at $60,000. Finally, CANADA LIFE ASSURANCE Co bought a new position in Oric Pharmaceuticals in the 3rd quarter worth $65,000. Institutional investors own 95.05% of the company's stock.

Analyst Upgrades and Downgrades

ORIC has been the topic of a number of research reports. Benchmark reaffirmed a "buy" rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Wall Street Zen upgraded Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Stifel Nicolaus began coverage on Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a "buy" rating and a $14.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Finally, The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Friday, May 15th. Thirteen equities 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.45.

Insider Activity

In related news, CFO Dominic Piscitelli sold 77,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 69,828 shares in the company, valued at $955,945.32. The trade was a 52.44% decrease in their position. The sale was disclosed in a document filed with the SEC, 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.

Oric Pharmaceuticals Stock Up 1.9%

Shares of ORIC opened at $13.13 on Thursday. The stock has a market cap of $1.36 billion, a P/E ratio of -9.73 and a beta of 1.00. The business's 50 day moving average price is $12.09 and its 200-day moving average price is $10.78. 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 announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.02). On average, equities analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.53 EPS for the current year.

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.

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