Squarepoint Ops LLC Purchases Shares of 344,343 Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Squarepoint Ops LLC purchased 344,343 Oric Pharmaceuticals shares worth approximately $3.7 million, while institutional investors collectively own 95.05% of the company.
• Oric reported a quarterly loss of $0.38 per share, slightly worse than analysts’ expected loss of $0.36. The stock opened at $12.04, compared with a 12-month range of $7.23 to $14.93.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $19.60, although one firm maintains a sell rating. CFO Dominic Piscitelli separately sold 77,000 shares under a pre-arranged Rule 10b5-1 plan.

Squarepoint Ops LLC purchased a new position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 344,343 shares of the company's stock, valued at approximately $3,729,000. Squarepoint Ops LLC owned approximately 0.33% of Oric Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ORIC. BlackRock Inc. purchased a new position in Oric Pharmaceuticals in the second quarter valued at $73,904,000. Vanguard Group Inc. increased its holdings in Oric Pharmaceuticals by 48.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company's stock worth $55,802,000 after purchasing an additional 1,525,445 shares during the period. State Street Corp raised its position in 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 in the last quarter. Orbimed Advisors LLC raised its position in Oric Pharmaceuticals by 305.0% in the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock valued at $43,701,000 after purchasing an additional 2,742,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Oric Pharmaceuticals by 14.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company's stock valued at $26,955,000 after buying an additional 423,795 shares during the period. Hedge funds and other institutional investors own 95.05% of the company's stock.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the completion of the transaction, the chief financial officer owned 69,828 shares in the company, valued at approximately $955,945.32. This represents a 52.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.70% of the company's stock.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $12.04 on Friday. The firm's fifty day simple moving average is $12.36 and its 200-day simple moving average is $10.88. Oric Pharmaceuticals, Inc. has a 12 month low of $7.23 and a 12 month high of $14.93. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.92 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ORIC shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen raised shares of Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. HC Wainwright boosted their price target on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a "buy" rating and a $14.00 price objective on the stock. Twelve 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric's research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).

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