Frazier Life Sciences Management L.P. Has $7.87 Million Stock Position in Oric Pharmaceuticals, Inc. $ORIC

Frazier Life Sciences Management L.P. reduced its position in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 63.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,410,193 shares of the company’s stock after selling 2,478,045 shares during the period. Frazier Life Sciences Management L.P. owned about 1.98% of Oric Pharmaceuticals worth $7,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORIC. Arizona State Retirement System bought a new stake in Oric Pharmaceuticals during the first quarter worth about $56,000. BNP Paribas Financial Markets acquired a new position in shares of Oric Pharmaceuticals in the 4th quarter worth approximately $71,000. Hsbc Holdings PLC bought a new stake in Oric Pharmaceuticals during the 1st quarter worth approximately $102,000. Legato Capital Management LLC acquired a new stake in Oric Pharmaceuticals during the 1st quarter valued at $109,000. Finally, Tower Research Capital LLC TRC raised its position in Oric Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company’s stock valued at $118,000 after purchasing an additional 13,384 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. HC Wainwright decreased their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. LADENBURG THALM/SH SH started coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a “buy” rating and a $15.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Oppenheimer dropped their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.63.

Oric Pharmaceuticals Stock Up 2.0%

Oric Pharmaceuticals stock opened at $10.23 on Tuesday. The business’s 50-day simple moving average is $10.38 and its 200 day simple moving average is $8.01. The stock has a market cap of $993.54 million, a price-to-earnings ratio of -5.41 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a 12-month low of $3.90 and a 12-month high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data 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). As a group, sell-side analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Activity at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, Director Angie You bought 26,597 shares of the company’s stock in a transaction on Friday, June 20th. The stock was bought at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the transaction, the director owned 26,597 shares of the company’s stock, valued at approximately $249,745.83. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dominic Piscitelli sold 32,466 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the transaction, the chief financial officer directly owned 68,317 shares in the company, valued at approximately $717,328.50. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $416,289 over the last 90 days. 5.55% of the stock is currently owned by company insiders.

Oric Pharmaceuticals 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.