The Manufacturers Life Insurance Company Makes New Investment in Oric Pharmaceuticals, Inc. $ORIC

Key Points

• The Manufacturers Life Insurance Company acquired 174,222 shares of Oric Pharmaceuticals during the second quarter, valued at approximately $1.89 million and representing about 0.17% of the company. Institutional investors collectively own 95.05% of ORIC.
• Oric Pharmaceuticals’ CFO sold 77,000 shares for approximately $1.05 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 52.44%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $19.60 price target, despite the company missing its latest quarterly EPS estimate and shares recently trading down 3.0%.

The Manufacturers Life Insurance Company acquired a new stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 174,222 shares of the company's stock, valued at approximately $1,887,000. The Manufacturers Life Insurance Company owned approximately 0.17% of Oric Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Federation des caisses Desjardins du Quebec lifted its position in shares of Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company's stock worth $33,000 after purchasing an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Oric Pharmaceuticals by 184.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company's stock valued at $37,000 after purchasing an additional 2,936 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Oric Pharmaceuticals in the second quarter valued at approximately $46,000. Russell Investments Group Ltd. bought a new position in Oric Pharmaceuticals in the 3rd quarter worth approximately $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new position in Oric Pharmaceuticals during the 3rd quarter worth $65,000. 95.05% of the stock is owned by institutional investors.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 77,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the sale, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. This trade represents a 52.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by company insiders.

Oric Pharmaceuticals Stock Down 3.0%

Shares of Oric Pharmaceuticals stock opened at $12.74 on Friday. The business has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $10.80. The stock has a market cap of $1.32 billion, a PE ratio of -9.44 and a beta of 1.00. Oric Pharmaceuticals, Inc. has a 12 month low of $7.23 and a 12 month high of $14.93.

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

Analysts Set New Price Targets

ORIC has been the subject of several research reports. HC Wainwright lifted their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Benchmark reiterated a "buy" rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. The Goldman Sachs Group upgraded Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price objective for the company in a research report on Friday, May 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

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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