AlphaQuest LLC Buys 27,381 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

AlphaQuest LLC increased its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 2,597.8% in the fourth quarter, HoldingsChannel reports. The firm owned 28,435 shares of the company’s stock after buying an additional 27,381 shares during the period. AlphaQuest LLC’s holdings in ORIC Pharmaceuticals were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of ORIC Pharmaceuticals by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after buying an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after purchasing an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after purchasing an additional 2,520 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of ORIC Pharmaceuticals by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in ORIC Pharmaceuticals by 4.6% during the 4th quarter. Rhumbline Advisers now owns 93,319 shares of the company’s stock worth $753,000 after buying an additional 4,072 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $7.79 on Friday. The firm has a market capitalization of $553.30 million, a P/E ratio of -4.28 and a beta of 1.25. The stock has a 50-day simple moving average of $9.17 and a two-hundred day simple moving average of $9.32. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $15.37.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.01. As a group, analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.86.

Insider Activity at ORIC Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 8,851 shares of the firm’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 $73,286.28. Following the sale, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. The trade was a 15.91 % 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. Company insiders own 5.55% of the company’s stock.

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.