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

Key Points

• Candriam S.C.A. cut its Oric Pharmaceuticals stake by 33.2% in the third quarter, selling 391,643 shares and retaining 788,125 shares valued at about $10.7 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $21.25; 14 analysts rate the stock Buy, one Hold, and one Sell.
• Oric’s CFO sold 77,000 shares for about $1.05 million under a pre-arranged trading plan; insiders sold 105,000 shares worth roughly $1.43 million during the quarter.

Candriam S.C.A. lessened its position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 33.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 788,125 shares of the company's stock after selling 391,643 shares during the period. Candriam S.C.A. owned 0.76% of Oric Pharmaceuticals worth $10,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at about $38,000. Quantbot Technologies LP bought a new stake in shares of Oric Pharmaceuticals in the second quarter worth about $46,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Oric Pharmaceuticals in the third quarter worth about $71,000. Canada Pension Plan Investment Board purchased a new position in Oric Pharmaceuticals during the 2nd quarter valued at about $128,000. Finally, E Fund Management Co. Ltd. purchased a new position in Oric Pharmaceuticals during the 2nd quarter valued at about $139,000. Hedge funds and other institutional investors own 95.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ORIC shares. HC Wainwright increased their price objective on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, August 10th. JPMorgan Chase & Co. boosted their target price on Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, October 14th. Leerink Partners initiated coverage on Oric Pharmaceuticals in a report on Monday, October 5th. They set an "outperform" rating and a $26.00 target price for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Thursday, October 15th. Finally, Stifel Nicolaus lifted their price target on shares of Oric Pharmaceuticals from $14.00 to $18.00 and gave the company a "buy" rating in a report on Monday, October 26th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Oric Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $21.25.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 77,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total value of $1,054,130.00. Following the completion of the transaction, the chief financial officer owned 69,828 shares of the company's stock, valued at approximately $955,945.32. This represents a 52.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 105,000 shares of company stock worth $1,432,952. 5.70% of the stock is currently owned by corporate insiders.

Oric Pharmaceuticals Price Performance

ORIC stock opened at $9.23 on Tuesday. Oric Pharmaceuticals, Inc. has a 1 year low of $7.23 and a 1 year high of $14.68. The firm has a 50-day moving average of $11.90 and a 200 day moving average of $11.08. The company has a market cap of $956.69 million, a P/E ratio of -6.84 and a beta of 1.23.

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.

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