JPMorgan Chase & Co. Buys 1,279 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

JPMorgan Chase & Co. lifted its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 3.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,251 shares of the company’s stock after purchasing 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 reporting period.

A number of other large investors also recently modified their holdings of ORIC. Creative Planning acquired a new stake in ORIC Pharmaceuticals in the third quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ORIC Pharmaceuticals in the third quarter worth about $132,000. China Universal Asset Management Co. Ltd. raised its holdings in 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 buying an additional 5,646 shares during the period. Intech Investment Management LLC bought a new position in ORIC Pharmaceuticals during the 3rd quarter worth about $200,000. Finally, Squarepoint Ops LLC lifted its stake in ORIC Pharmaceuticals by 95.6% in the 2nd quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock valued at $240,000 after acquiring an additional 16,613 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORIC has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company started 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $18.29.

Insider Buying and Selling at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the sale, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % 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 company insiders.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $11.15 on Thursday. The stock has a market cap of $786.86 million, a P/E ratio of -6.19 and a beta of 1.18. ORIC Pharmaceuticals, Inc. has a 52-week low of $6.33 and a 52-week high of $16.65. The firm has a 50 day moving average price of $9.19 and a two-hundred day moving average price of $9.59.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued 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). Analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

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.