DAFNA Capital Management LLC Takes Position in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• DAFNA Capital Management LLC has acquired a new stake in Oric Pharmaceuticals, purchasing 242,000 shares valued at approximately $1,350,000.
• Oric Pharmaceuticals' share price has increased by 2.0%, with a current opening price of $10.23 and a market capitalization of about $993.54 million.
• Several analysts have a positive outlook on ORIC stock, with ratings indicating a consensus target price of $17.63 and a "Moderate Buy" rating.

DAFNA Capital Management LLC purchased a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 242,000 shares of the company's stock, valued at approximately $1,350,000. DAFNA Capital Management LLC owned 0.34% of Oric Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ORIC. Boxer Capital Management LLC acquired a new position in shares of Oric Pharmaceuticals during the fourth quarter valued at $13,982,000. Vivo Capital LLC boosted its holdings in shares of Oric Pharmaceuticals by 62.8% during the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock valued at $11,609,000 after acquiring an additional 802,632 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Oric Pharmaceuticals during the fourth quarter valued at $5,845,000. Balyasny Asset Management L.P. boosted its holdings in shares of Oric Pharmaceuticals by 37.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company's stock valued at $12,551,000 after acquiring an additional 424,194 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Oric Pharmaceuticals by 16.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,295,025 shares of the company's stock valued at $10,452,000 after acquiring an additional 180,140 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ORIC. Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. LADENBURG THALM/SH SH assumed coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price objective for the company. Zacks Research raised shares of Oric Pharmaceuticals to a "hold" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Oric Pharmaceuticals in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.63.

Insider Activity

In related news, Director Angie You acquired 26,597 shares of the business's stock in a transaction on Friday, June 20th. The shares were purchased at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the acquisition, the director owned 26,597 shares in the company, valued at approximately $249,745.83. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 32,466 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the sale, the chief financial officer owned 68,317 shares in the company, valued at approximately $717,328.50. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock worth $416,289. Corporate insiders own 5.55% of the company's stock.

Oric Pharmaceuticals Stock Performance

NASDAQ ORIC traded up $0.22 on Wednesday, reaching $10.60. The company's stock had a trading volume of 1,178,720 shares, compared to its average volume of 1,092,377. Oric Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.67. The stock has a market cap of $1.03 billion, a PE ratio of -5.61 and a beta of 1.63. The firm's 50 day moving average is $10.38 and its two-hundred day moving average is $8.03.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings data 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). Equities research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

About Oric Pharmaceuticals

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.