Oric Pharmaceuticals, Inc. $ORIC Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its Oric Pharmaceuticals stake by 791.3% in the second quarter, purchasing 1,078,943 additional shares for a total holding of 1.22 million shares valued at $13.2 million. Institutional investors collectively own 95.05% of the company.
• Oric shares opened at $13.83, up 2.7%, with the stock trading near its 12-month high of $14.93. The company reported a quarterly loss of $0.38 per share, slightly worse than analysts’ $0.36 estimate.
• Analysts maintain a generally positive outlook, with 13 Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $19.45.

Algert Global LLC raised its position in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 791.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,215,293 shares of the company's stock after purchasing an additional 1,078,943 shares during the period. Algert Global LLC owned 1.17% of Oric Pharmaceuticals worth $13,162,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Oric Pharmaceuticals during the second quarter valued at approximately $73,904,000. Orbimed Advisors LLC increased its stake 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 purchasing an additional 2,742,475 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Oric Pharmaceuticals during the 4th quarter valued at $19,642,000. Siren L.L.C. lifted 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 purchasing an additional 1,990,617 shares during the last quarter. Finally, State Street Corp lifted 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 purchasing an additional 1,854,458 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Stock Up 2.7%

Shares of NASDAQ:ORIC opened at $13.83 on Wednesday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -10.24 and a beta of 1.02. The business has a 50 day moving average price of $11.55 and a 200 day moving average price of $10.66. Oric Pharmaceuticals, Inc. has a twelve month low of $7.23 and a twelve month high of $14.93.

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

Wall Street Analysts Forecast Growth

ORIC has been the subject of several recent analyst reports. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a research note on Friday, June 12th. They set a "buy" rating and a $14.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen upgraded Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Citigroup decreased their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Finally, Benchmark reiterated a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $19.45.

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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