JPMorgan Chase & Co. Sells 106,920 Shares of Oric Pharmaceuticals, Inc. $ORIC

JPMorgan Chase & Co. decreased its stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,228,528 shares of the company’s stock after selling 106,920 shares during the quarter. JPMorgan Chase & Co.’s holdings in Oric Pharmaceuticals were worth $14,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORIC. Vivo Capital LLC increased its stake in shares of Oric Pharmaceuticals by 50.3% in the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock valued at $31,735,000 after acquiring an additional 1,046,154 shares during the last quarter. Royce & Associates LP boosted its stake in Oric Pharmaceuticals by 521.2% during the 3rd quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock worth $17,502,000 after acquiring an additional 1,223,709 shares during the last quarter. Alkeon Capital Management LLC boosted its stake in Oric Pharmaceuticals by 12.5% during the 2nd quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after acquiring an additional 500,000 shares during the last quarter. Resolute Capital Asset Partners LLC acquired a new position in Oric Pharmaceuticals during the second quarter valued at approximately $2,309,000. Finally, Stempoint Capital LP acquired a new position in Oric Pharmaceuticals during the second quarter valued at approximately $2,038,000. Institutional investors own 95.05% of the company’s stock.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 52,000 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total transaction of $702,520.00. Following the completion of the transaction, the chief financial officer owned 68,148 shares in the company, valued at approximately $920,679.48. This represents a 43.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.82% of the stock is currently owned by corporate insiders.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock opened at $12.38 on Friday. The firm has a market cap of $1.24 billion, a PE ratio of -8.14 and a beta of 1.28. The business’s 50 day simple moving average is $11.70 and its 200 day simple moving average is $11.30. Oric Pharmaceuticals, Inc. has a 52-week low of $3.90 and a 52-week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, equities research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ORIC. Wells Fargo & Company increased their target price on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Oppenheimer reissued an “outperform” rating and issued a $15.00 price target on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research note on Friday, March 13th. Finally, Citigroup lifted their target price on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Oric Pharmaceuticals Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.