SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 3.5% Stake in ORIC Pharmaceuticals
Beneficial Ownership Report
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a combined beneficial ownership of 3.5% of ORIC Pharmaceuticals Inc.'s common stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 2,467,808.70 shares of ORIC Pharmaceuticals Inc. common stock.
- This ownership represents 3.5% of the total outstanding common stock of ORIC Pharmaceuticals Inc.
- The filing is an Amendment No. 7 to a previous Schedule 13G, indicating an ongoing reporting obligation.
- The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of ORIC Pharmaceuticals Inc.
- FMR LLC, a parent holding company, holds sole voting power over 2,466,879.00 shares and sole dispositive power over 2,467,808.70 shares.
- Abigail P. Johnson, as an individual, holds sole dispositive power over 2,467,808.70 shares, reflecting her role as Director, Chairman, and CEO of FMR LLC and her family's predominant ownership of FMR LLC's voting shares.
Sentiment
Score: 5
Explanation: The document is a factual, routine beneficial ownership disclosure and does not contain information that would significantly alter the sentiment towards ORIC Pharmaceuticals Inc. It indicates continued institutional holding.
Positives
- The continued disclosure of a beneficial ownership stake by a prominent investment firm like FMR LLC and its leadership may signal ongoing institutional confidence in ORIC Pharmaceuticals Inc.
Negatives
- No specific negative information regarding ORIC Pharmaceuticals Inc.'s operations or financial performance is disclosed in this beneficial ownership report.
Risks
- No specific risks related to ORIC Pharmaceuticals Inc.'s business, operations, or financial health are detailed within this beneficial ownership filing.
Future Outlook
This Schedule 13G filing does not contain any forward-looking statements or guidance regarding ORIC Pharmaceuticals Inc.'s future performance or strategic direction.
Industry Context
This filing represents a routine disclosure of beneficial ownership by a major asset management firm, FMR LLC, in a publicly traded pharmaceutical company, ORIC Pharmaceuticals Inc. Such filings are standard for institutional investors holding significant, but non-controlling, stakes in public companies.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director, Chairman, and Chief Executive Officer of FMR LLC | NA | Abigail P. Johnson | NA | Abigail P. Johnson's role at FMR LLC is noted as part of the beneficial ownership disclosure, not a change. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Governance Structure Disclosure | Members of the Johnson family, including Abigail P. Johnson, are the predominant owners (49% voting power) of Series B voting common shares of FMR LLC. They have a shareholders' voting agreement to vote Series B shares in accordance with the majority, potentially forming a controlling group with respect to FMR LLC under the Investment Company Act of 1940. | NA | This describes the internal governance and control structure of FMR LLC, the reporting entity, and does not pertain to ORIC Pharmaceuticals Inc.'s corporate governance. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holder's stake in the company, confirming FMR LLC's continued investment in ORIC Pharmaceuticals Inc.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC and its subsidiaries, authorizing Stephanie J. Brown to sign. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson, authorizing Stephanie J. Brown to sign. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where Abigail P. Johnson's Power of Attorney was incorporated by reference. |
| 2024-12-31 | Date of event which requires the filing of this statement (reporting period end date). |
| 2025-02-11 | Date of filing of this Schedule 13G Amendment No. 7. |
Keywords
ORIC Pharmaceuticals, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Pharmaceuticals, Investment Management
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