Virtus Investment Advisers LLC Lowers Stock Position in Oric Pharmaceuticals, Inc. $ORIC

Virtus Investment Advisers LLC cut its stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 50.1% in the second quarter, Holdings Channel.com reports. The fund owned 9,724 shares of the company’s stock after selling 9,749 shares during the period. Virtus Investment Advisers LLC’s holdings in Oric Pharmaceuticals were worth $99,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after purchasing an additional 2,422 shares during the period. ANTIPODES PARTNERS Ltd lifted its stake in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after purchasing an additional 1,372 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Oric Pharmaceuticals during the first quarter worth $102,000. Creative Planning acquired a new stake in shares of Oric Pharmaceuticals in the second quarter valued at $113,000. Finally, CWM LLC grew its stake in shares of Oric Pharmaceuticals by 303.0% in the second quarter. CWM LLC now owns 12,457 shares of the company’s stock valued at $126,000 after buying an additional 9,366 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORIC has been the subject of a number of research analyst reports. Oppenheimer raised their target price on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Friday, November 14th. Guggenheim initiated coverage on shares of Oric Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Wall Street Zen cut shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insider Activity at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the transaction, the chief financial officer owned 48,317 shares in the company, valued at approximately $701,562.84. This represents a 18.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Chacko sold 37,461 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the transaction, the chief executive officer directly owned 531,419 shares in the company, valued at $6,547,082.08. This trade represents a 6.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 261,000 shares of company stock valued at $3,024,703 in the last 90 days. Insiders own 6.82% of the company’s stock.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $11.90 on Friday. Oric Pharmaceuticals, Inc. has a 1 year low of $3.90 and a 1 year high of $14.93. The stock has a market cap of $1.16 billion, a P/E ratio of -6.88 and a beta of 1.66. The stock has a 50-day simple moving average of $12.40 and a 200-day simple moving average of $10.60.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.08. On average, equities research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

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.