TD Asset Management Inc Grows Position in Oric Pharmaceuticals, Inc. $ORIC

TD Asset Management Inc lifted its stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 16.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,700 shares of the company’s stock after buying an additional 25,000 shares during the quarter. TD Asset Management Inc’s holdings in Oric Pharmaceuticals were worth $1,804,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ORIC. Arizona State Retirement System purchased a new position in shares of Oric Pharmaceuticals in the first quarter worth $56,000. New York State Common Retirement Fund lifted its holdings in shares of Oric Pharmaceuticals by 137.1% in the first quarter. New York State Common Retirement Fund now owns 38,486 shares of the company’s stock worth $215,000 after buying an additional 22,257 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Oric Pharmaceuticals by 54.1% in the first quarter. Victory Capital Management Inc. now owns 150,260 shares of the company’s stock worth $838,000 after buying an additional 52,760 shares in the last quarter. Legato Capital Management LLC purchased a new position in shares of Oric Pharmaceuticals in the first quarter worth $109,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company’s stock worth $17,945,000 after buying an additional 12,098 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Trading Up 1.8%

Shares of ORIC opened at $12.60 on Wednesday. Oric Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.93. The company has a market cap of $1.22 billion, a P/E ratio of -6.67 and a beta of 1.68. The company’s fifty day simple moving average is $11.24 and its 200-day simple moving average is $9.14.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). Analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ORIC. Guggenheim began coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $18.00 target price on the stock. Zacks Research raised shares of Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Finally, HC Wainwright decreased their price target on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $17.29.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 11,000 shares of the 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 sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Chacko sold 37,461 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the sale, the chief executive officer directly owned 531,419 shares in the company, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 261,000 shares of company stock worth $3,024,703. Insiders own 5.55% of the company’s stock.

Oric Pharmaceuticals Company Profile

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.