Frazier Life Sciences Management L.P. Decreases Stock Holdings in Oric Pharmaceuticals, Inc. $ORIC

by · The Markets Daily

Frazier Life Sciences Management L.P. trimmed its position in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC – Free Report) by 24.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,065,334 shares of the company’s stock after selling 344,859 shares during the quarter. Frazier Life Sciences Management L.P.’s holdings in Oric Pharmaceuticals were worth $10,813,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ORIC. Nisa Investment Advisors LLC raised its position in Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 2,422 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its stake in shares of Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares during the period. Creative Planning bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at approximately $113,000. CWM LLC lifted its stake in Oric Pharmaceuticals by 303.0% in the second quarter. CWM LLC now owns 12,457 shares of the company’s stock worth $126,000 after acquiring an additional 9,366 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Oric Pharmaceuticals in the first quarter valued at $102,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI initiated coverage on shares of Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective for the company. Citigroup increased their price target on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, December 8th. HC Wainwright lifted their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Wolfe Research assumed coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

View Our Latest Stock Analysis on Oric Pharmaceuticals

Insider Transactions at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the transaction, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the sale, the chief executive officer owned 531,419 shares in the company, valued at approximately $6,547,082.08. This trade represents a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 261,000 shares of company stock worth $3,024,703 over the last quarter. 6.82% of the stock is owned by company insiders.

Oric Pharmaceuticals Trading Down 3.2%

Shares of ORIC opened at $9.38 on Friday. The firm has a market cap of $913.51 million, a PE ratio of -5.42 and a beta of 1.32. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.93. The firm has a fifty day simple moving average of $12.27 and a two-hundred day simple moving average of $10.91.

Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. As a group, research analysts forecast that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

About Oric Pharmaceuticals

(Free Report)

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.

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