MPM Bioimpact LLC Takes $7.81 Million Position in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• MPM Bioimpact LLC has acquired a $7.81 million stake in Oric Pharmaceuticals, Inc., owning approximately 1.97% of the company's shares.
• Several institutional investors, including Vanguard Group and Vivo Capital, have also increased their positions in Oric Pharmaceuticals, indicating strong institutional interest.
• Analyst ratings are predominantly positive, with a consensus target price of $17.63 and nine analysts rating the stock as a buy.

MPM Bioimpact LLC bought a new stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,399,514 shares of the company's stock, valued at approximately $7,809,000. MPM Bioimpact LLC owned approximately 1.97% of Oric Pharmaceuticals as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Oric Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock valued at $17,945,000 after purchasing an additional 12,098 shares in the last quarter. Vivo Capital LLC boosted its stake in shares of Oric Pharmaceuticals by 62.8% in the 1st quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock valued at $11,609,000 after purchasing an additional 802,632 shares in the last quarter. NEA Management Company LLC boosted its stake in shares of Oric Pharmaceuticals by 4.4% in the 4th quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock valued at $12,638,000 after purchasing an additional 66,081 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Oric Pharmaceuticals by 37.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company's stock valued at $12,551,000 after purchasing an additional 424,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Oric Pharmaceuticals by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock valued at $5,788,000 after purchasing an additional 103,237 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company's stock.

Wall Street Analyst Weigh In

ORIC has been the topic of several recent analyst reports. Oppenheimer reduced their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Guggenheim reiterated a "buy" rating and set a $18.00 price target on shares of Oric Pharmaceuticals in a research report on Wednesday, August 13th. HC Wainwright reduced their price target on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th. LADENBURG THALM/SH SH initiated coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.63.

Insider Activity

In other Oric Pharmaceuticals news, 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 transaction of $340,893.00. Following the completion of the sale, the chief financial officer directly owned 68,317 shares of the company's stock, valued at approximately $717,328.50. The trade was a 32.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Angie You acquired 26,597 shares of the company's stock in a transaction on Friday, June 20th. The shares were purchased at an average cost of $9.39 per share, with a total value of $249,745.83. Following the completion of the acquisition, the director directly owned 26,597 shares in the company, valued at approximately $249,745.83. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $416,289 over the last three months. Company insiders own 5.55% of the company's stock.

Oric Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ:ORIC opened at $10.23 on Tuesday. The stock has a market capitalization of $993.54 million, a P/E ratio of -5.41 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67. The business has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $8.01.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). As a group, equities analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Oric Pharmaceuticals Company Profile

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.

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