JPMorgan Chase & Co. Trims Position in Oric Pharmaceuticals, Inc. $ORIC

JPMorgan Chase & Co. cut its stake in shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 8.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,228,528 shares of the company’s stock after selling 106,920 shares during the period. JPMorgan Chase & Co.’s holdings in Oric Pharmaceuticals were worth $14,742,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ORIC. Alkeon Capital Management LLC grew its stake in Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after acquiring an additional 500,000 shares in the last quarter. Vivo Capital LLC boosted its holdings in 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 purchasing an additional 1,046,154 shares during the period. MPM Bioimpact LLC grew its position in shares of Oric Pharmaceuticals by 23.6% during the 2nd quarter. MPM Bioimpact LLC now owns 1,729,378 shares of the company’s stock valued at $17,553,000 after purchasing an additional 329,864 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Oric Pharmaceuticals by 1.9% in the second quarter. Franklin Resources Inc. now owns 1,042,558 shares of the company’s stock worth $10,582,000 after purchasing an additional 19,768 shares during the period. Finally, Eventide Asset Management LLC purchased a new stake in shares of Oric Pharmaceuticals in the second quarter worth $9,657,000. 95.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ORIC has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Tuesday, February 24th. JPMorgan Chase & Co. boosted their price target on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Finally, Evercore started coverage on shares of Oric Pharmaceuticals in a research report on Thursday, November 20th. They set an “outperform” rating and a $25.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Oric Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $20.20.

Insider Activity

In related news, CFO Dominic Piscitelli sold 52,000 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total transaction of $702,520.00. Following the completion of the sale, the chief financial officer directly owned 68,148 shares in the company, valued at $920,679.48. This represents a 43.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pratik S. Multani sold 10,720 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the transaction, the insider owned 68,149 shares in the company, valued at approximately $617,429.94. The trade was a 13.59% 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 have sold 106,814 shares of company stock valued at $1,199,135. 6.82% of the stock is currently owned by insiders.

Oric Pharmaceuticals Stock Performance

ORIC stock opened at $13.51 on Thursday. The company has a market capitalization of $1.36 billion, a PE ratio of -8.89 and a beta of 1.28. Oric Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $14.93. The company’s 50 day moving average price is $10.71 and its two-hundred day moving average price is $11.09.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

About Oric Pharmaceuticals

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.