Candriam S.C.A. Buys Shares of 574,085 Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Candriam S.C.A. bought a new stake in Oric Pharmaceuticals during the first quarter, acquiring 574,085 shares valued at about $7.27 million and representing roughly 0.57% of the company.
• Institutional ownership in Oric remains high at 95.05%, with other large investors such as Vanguard, State Street, and OrbiMed also recently boosting their positions.
• Analyst sentiment is mostly positive: Oric has a Moderate Buy consensus rating and an average price target of $19.27, though the company recently reported a quarterly EPS miss and continues to post losses.

Candriam S.C.A. purchased a new stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 574,085 shares of the company's stock, valued at approximately $7,274,000. Candriam S.C.A. owned about 0.57% of Oric Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company's stock worth $55,802,000 after acquiring an additional 1,525,445 shares during the last quarter. State Street Corp lifted its holdings in Oric Pharmaceuticals by 77.1% during the fourth quarter. State Street Corp now owns 4,258,397 shares of the company's stock valued at $34,834,000 after purchasing an additional 1,854,458 shares during the last quarter. Orbimed Advisors LLC boosted its position in Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Oric Pharmaceuticals by 14.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company's stock worth $26,955,000 after purchasing an additional 423,795 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new position in shares of Oric Pharmaceuticals in the fourth quarter worth about $19,642,000. Institutional investors own 95.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a "buy" rating and a $14.00 price target on the stock. Wall Street Zen lowered shares of Oric Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. Wedbush lowered their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Oric Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $19.27.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock opened at $10.85 on Monday. Oric Pharmaceuticals, Inc. has a 12-month low of $7.23 and a 12-month high of $14.93. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -7.53 and a beta of 1.02. The company's 50-day moving average price is $9.00 and its 200-day moving average price is $10.13.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company's pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.

Want to see what other hedge funds are holding ORIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.