Barclays PLC Purchases 56,474 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Barclays PLC increased its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 111.2% during the third quarter, Holdings Channel.com reports. The firm owned 107,261 shares of the company’s stock after buying an additional 56,474 shares during the quarter. Barclays PLC’s holdings in ORIC Pharmaceuticals were worth $1,100,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ORIC. Bank of New York Mellon Corp raised its stake in shares of ORIC Pharmaceuticals by 62.0% in the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after purchasing an additional 71,394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 buying an additional 3,188 shares in the last quarter. Rhumbline Advisers raised its position in ORIC Pharmaceuticals by 53.7% in the 2nd quarter. Rhumbline Advisers now owns 92,702 shares of the company’s stock valued at $655,000 after buying an additional 32,402 shares during the last quarter. Victory Capital Management Inc. lifted its stake in ORIC Pharmaceuticals by 8.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock valued at $678,000 after acquiring an additional 7,310 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ORIC Pharmaceuticals Price Performance

Shares of ORIC Pharmaceuticals stock opened at $8.25 on Monday. The stock has a market capitalization of $582.18 million, a P/E ratio of -4.58 and a beta of 1.13. ORIC Pharmaceuticals, Inc. has a one year low of $6.33 and a one year high of $16.65. The business’s 50 day simple moving average is $9.12 and its two-hundred day simple moving average is $9.33.

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

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the sale, the insider now owns 46,765 shares in the company, valued at $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by corporate insiders.

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.