AlphaQuest LLC Lowers Holdings in Oric Pharmaceuticals, Inc. $ORIC

AlphaQuest LLC cut its stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 52.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,157 shares of the company’s stock after selling 22,520 shares during the quarter. AlphaQuest LLC’s holdings in Oric Pharmaceuticals were worth $205,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System acquired a new position in Oric Pharmaceuticals in the first quarter valued at approximately $56,000. Hsbc Holdings PLC acquired a new position in Oric Pharmaceuticals in the first quarter valued at approximately $102,000. Legato Capital Management LLC acquired a new position in Oric Pharmaceuticals in the first quarter valued at approximately $109,000. CWM LLC lifted its holdings in 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 acquiring an additional 9,366 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Oric Pharmaceuticals by 56.0% in the first quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock valued at $174,000 after acquiring an additional 11,198 shares during the period. 95.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 11,000 shares of the stock in a transaction on Monday, October 6th. The stock was 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 directly owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This represents a 18.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Chacko sold 125,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $10.80, for a total value of $1,350,000.00. Following the completion of the transaction, the chief executive officer directly owned 656,419 shares of the company’s stock, valued at approximately $7,089,325.20. This represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 261,000 shares of company stock valued at $3,024,703. 5.55% of the stock is owned by corporate insiders.

Oric Pharmaceuticals Trading Down 1.3%

Shares of Oric Pharmaceuticals stock opened at $13.16 on Monday. The firm has a market capitalization of $1.28 billion, a PE ratio of -6.96 and a beta of 1.66. Oric Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.93. The firm’s 50-day moving average price is $11.76 and its 200 day moving average price is $9.67.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.01). On average, sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ORIC has been the topic of a number of analyst reports. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lowered their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, October 27th. HC Wainwright reduced their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Finally, LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a “buy” rating and a $15.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.83.

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.