Oric Pharmaceuticals, Inc. $ORIC Stock Holdings Lowered by Candriam S.C.A.

Candriam S.C.A. cut its holdings in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 33.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,125 shares of the company’s stock after selling 391,643 shares during the quarter. Candriam S.C.A.’s holdings in Oric Pharmaceuticals were worth $10,655,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Oric Pharmaceuticals during the 3rd quarter valued at about $71,000. China Universal Asset Management Co. Ltd. grew its holdings in Oric Pharmaceuticals by 7.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 23,913 shares of the company’s stock worth $320,000 after purchasing an additional 1,760 shares during the period. WINTON GROUP Ltd purchased a new stake in Oric Pharmaceuticals in the second quarter worth about $899,000. Engineers Gate Manager LP bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at approximately $694,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at approximately $38,000. 95.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Dominic Piscitelli sold 77,000 shares of the company’s stock in a transaction that occurred 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 approximately $955,945.32. This represents a 52.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,000 shares of company stock valued at $1,432,952 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Leerink Partners initiated coverage on shares of Oric Pharmaceuticals in a report on Monday, October 5th. They set an “outperform” rating and a $26.00 target price for the company. Stifel Nicolaus upped their price target on Oric Pharmaceuticals from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Wedbush reduced their price objective on Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. HC Wainwright raised their price objective on Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Fourteen investment 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. Based on data from MarketBeat.com, Oric Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $21.25.

Oric Pharmaceuticals Stock Performance

Shares of ORIC stock opened at $9.23 on Tuesday. The company has a market capitalization of $956.69 million, a price-to-earnings ratio of -6.84 and a beta of 1.23. Oric Pharmaceuticals, Inc. has a one year low of $7.23 and a one year high of $14.68. The company’s 50-day moving average is $11.90 and its 200 day moving average is $11.08.

Oric Pharmaceuticals Profile

Oric Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its research centers on therapies intended to address treatment resistance and improve outcomes for people with tumors that have become difficult to treat.

The company’s drug candidates have included ORIC-114, a targeted therapy designed to inhibit EGFR and HER2 alterations, and ORIC-944, which targets the PRC2 pathway and has been investigated for prostate cancer. These programs are investigational and are not approved medicines.

Founded in 2014, Oric is headquartered in South San Francisco, California.