Defilade Capital Management L.P. Purchases Shares of 842,928 Oric Pharmaceuticals, Inc. $ORIC

Defilade Capital Management L.P. purchased a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 842,928 shares of the company’s stock, valued at approximately $10,680,000. Oric Pharmaceuticals comprises approximately 1.5% of Defilade Capital Management L.P.’s holdings, making the stock its 29th largest holding. Defilade Capital Management L.P. owned 0.81% of Oric Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Oric Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after buying an additional 977 shares in the last quarter. California State Teachers Retirement System raised its stake in Oric Pharmaceuticals by 3.9% during the 4th quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock valued at $278,000 after acquiring an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Oric Pharmaceuticals by 1.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock worth $1,042,000 after acquiring an additional 1,985 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in Oric Pharmaceuticals by 100.0% during the 4th 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 during the period. Finally, Arizona State Retirement System grew its stake in shares of Oric Pharmaceuticals by 21.0% in the fourth quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock worth $99,000 after purchasing an additional 2,107 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Oric Pharmaceuticals Price Performance

Shares of ORIC stock opened at $11.07 on Monday. The stock has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $10.41. The stock has a market capitalization of $1.15 billion, a P/E ratio of -7.69 and a beta of 1.02. Oric Pharmaceuticals, Inc. has a fifty-two week low of $7.23 and a fifty-two week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, sell-side analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, May 15th. Citigroup lowered their target price on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

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.