Fred Alger Management LLC Reduces Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Fred Alger Management LLC lowered its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 29.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,912 shares of the company’s stock after selling 64,031 shares during the quarter. Fred Alger Management LLC’s holdings in ORIC Pharmaceuticals were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after acquiring an additional 915,175 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ORIC Pharmaceuticals by 62.0% during the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after purchasing an additional 71,394 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in ORIC Pharmaceuticals in the second quarter worth $724,000. Monaco Asset Management SAM raised its holdings in ORIC Pharmaceuticals by 132.0% in the second quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after purchasing an additional 171,650 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in ORIC Pharmaceuticals during the first quarter valued at $161,000. 95.05% of the stock is owned by institutional investors.

ORIC Pharmaceuticals Stock Up 2.8 %

NASDAQ:ORIC opened at $10.65 on Friday. ORIC Pharmaceuticals, Inc. has a 52 week low of $5.27 and a 52 week high of $16.65. The stock has a market cap of $751.25 million, a price-to-earnings ratio of -5.92 and a beta of 1.12. The company’s 50 day moving average price is $10.07 and its 200-day moving average price is $9.86.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current year.

Analyst Ratings Changes

ORIC has been the topic of a number of recent research reports. Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals currently has an average rating of “Buy” and an average price target of $18.00.

About ORIC Pharmaceuticals

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.