Squarepoint Ops LLC Acquires Shares of 344,343 Oric Pharmaceuticals, Inc. $ORIC

Squarepoint Ops LLC bought a new position in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 344,343 shares of the company’s stock, valued at approximately $3,729,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at approximately $73,904,000. Orbimed Advisors LLC boosted its stake in shares of Oric Pharmaceuticals by 305.0% in the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after buying an additional 2,742,475 shares in the last quarter. Paradigm Biocapital Advisors LP acquired a new position in Oric Pharmaceuticals during the fourth quarter worth $19,642,000. Siren L.L.C. grew its holdings in Oric Pharmaceuticals by 197.6% during the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after acquiring an additional 1,990,617 shares during the period. Finally, State Street Corp raised its position in Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock worth $34,834,000 after acquiring an additional 1,854,458 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Trading Down 0.2%

Shares of NASDAQ ORIC opened at $12.04 on Friday. The company’s 50-day moving average price is $12.36 and its 200 day moving average price is $10.88. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -8.92 and a beta of 1.00.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results 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). As a group, research analysts expect that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ORIC. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They issued a “buy” rating and a $14.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. HC Wainwright increased 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, Benchmark reiterated a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.60.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock in a transaction 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 transaction, the chief financial officer 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 document filed with the Securities & Exchange Commission, 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 corporate insiders.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric’s research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).