Fmr LLC Lowers Stock Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Fmr LLC cut its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,378,819 shares of the company’s stock after selling 541,541 shares during the quarter. Fmr LLC owned 0.06% of ORIC Pharmaceuticals worth $44,883,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ORIC Pharmaceuticals by 162.3% in the 2nd 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 in the last quarter. Victory Capital Management Inc. grew its position in shares of ORIC Pharmaceuticals by 4.1% in the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,900 shares during the period. Profund Advisors LLC increased its stake in shares of ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after purchasing an additional 4,175 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of 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 purchasing an additional 5,646 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $9.90 on Friday. The company has a market capitalization of $698.64 million, a PE ratio of -5.50 and a beta of 1.13. The firm’s 50-day moving average is $9.47 and its two-hundred day moving average is $9.36. ORIC Pharmaceuticals, Inc. has a 12 month low of $6.33 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals 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.