Connor Clark & Lunn Investment Management Ltd. Takes Position in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Connor Clark & Lunn purchased 518,460 shares of Oric Pharmaceuticals during the second quarter, valued at approximately $5.6 million and representing about 0.5% of the company. Institutional investors and hedge funds collectively own 95.05% of ORIC.
• ORIC opened at $13.74, near its 52-week high of $14.93, with a market capitalization of roughly $1.42 billion. The company reported a quarterly loss of $0.38 per share, slightly below analysts’ expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $19.45; 13 analysts rate the stock Buy, one rates it Hold, and one rates it Sell.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 518,460 shares of the company's stock, valued at approximately $5,615,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.50% of Oric Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Oric Pharmaceuticals in the second quarter valued at about $73,904,000. Orbimed Advisors LLC grew its position in shares of Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock worth $43,701,000 after buying an additional 2,742,475 shares during the period. Paradigm Biocapital Advisors LP acquired a new position in shares of Oric Pharmaceuticals during the 4th quarter worth about $19,642,000. Siren L.L.C. increased its stake in shares of Oric Pharmaceuticals by 197.6% in the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock valued at $37,987,000 after acquiring an additional 1,990,617 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Oric Pharmaceuticals by 77.1% in the 4th quarter. State Street Corp now owns 4,258,397 shares of the company's stock valued at $34,834,000 after acquiring an additional 1,854,458 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $13.74 on Friday. The business's 50-day simple moving average is $11.76 and its 200-day simple moving average is $10.71. Oric Pharmaceuticals, Inc. has a fifty-two week low of $7.23 and a fifty-two week high of $14.93. The stock has a market capitalization of $1.42 billion, a PE ratio of -10.18 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results 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, research analysts expect that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ORIC. Stifel Nicolaus initiated coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They set a "buy" rating and a $14.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Citigroup decreased their price target on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.45.

Oric Pharmaceuticals 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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