The Manufacturers Life Insurance Company Takes Position in Oric Pharmaceuticals, Inc. $ORIC

The Manufacturers Life Insurance Company acquired a new stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 174,222 shares of the company’s stock, valued at approximately $1,887,000.

Several other hedge funds have also added to or reduced their stakes in ORIC. Federation des caisses Desjardins du Quebec lifted its holdings in 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 acquiring an additional 2,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Oric Pharmaceuticals in the second quarter worth about $46,000. 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 worth $37,000 after acquiring an additional 2,936 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Oric Pharmaceuticals during the third quarter worth about $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in shares of Oric Pharmaceuticals during the third quarter worth about $65,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $12.74 on Friday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -9.44 and a beta of 1.00. The stock’s 50-day moving average is $12.16 and its 200-day moving average is $10.80. Oric Pharmaceuticals, Inc. has a one year low of $7.23 and a one year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). On average, equities analysts expect that Oric Pharmaceuticals, Inc. will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

ORIC has been the subject of several research analyst reports. 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. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. HC Wainwright upped their price target on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings reissued 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was 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 of the company’s stock, valued at $955,945.32. This represents a 52.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 Company 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.