ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Shares Sold by State Street Corp

State Street Corp decreased its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,938,169 shares of the company’s stock after selling 318,059 shares during the period. State Street Corp owned about 2.75% of ORIC Pharmaceuticals worth $19,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares during the period. Quest Partners LLC raised its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the period. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ORIC Pharmaceuticals during the 3rd quarter valued at approximately $132,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $8.33 on Tuesday. ORIC Pharmaceuticals, Inc. has a 1 year low of $6.33 and a 1 year high of $16.65. The firm has a market cap of $587.82 million, a P/E ratio of -4.63 and a beta of 1.13. The stock has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). On average, research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the completion of the sale, the chief executive officer now directly owns 778,648 shares in the company, valued at approximately $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the completion of the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock valued at $350,749 in the last quarter. Insiders own 5.55% of the company’s stock.

Analysts Set New Price Targets

ORIC has been the subject of several analyst reports. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Company 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.