JPMorgan Chase & Co. Increases Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

JPMorgan Chase & Co. lifted its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,251 shares of the company’s stock after buying an additional 1,279 shares during the quarter. JPMorgan Chase & Co.’s holdings in ORIC Pharmaceuticals were worth $361,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ORIC. Creative Planning acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. China Universal Asset Management Co. Ltd. increased its holdings in ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after purchasing an additional 5,646 shares in the last quarter. Intech Investment Management LLC acquired a new position in ORIC Pharmaceuticals during the 3rd quarter worth approximately $200,000. Finally, Squarepoint Ops LLC lifted its position in shares of ORIC Pharmaceuticals by 95.6% during the second quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock worth $240,000 after purchasing an additional 16,613 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dominic Piscitelli sold 8,851 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 value of $73,286.28. Following the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at approximately $884,005.92. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 in the last three months. 5.55% of the stock is owned by insiders.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $11.15 on Thursday. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The company has a market cap of $786.86 million, a P/E ratio of -6.19 and a beta of 1.18. The firm’s 50 day simple moving average is $9.19 and its 200-day simple moving average is $9.59.

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

Analyst Ratings Changes

Several equities analysts have recently commented on ORIC shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Finally, Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Company 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.