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

AlphaQuest LLC boosted its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 2,597.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 have also added to or reduced their stakes in ORIC. PNC Financial Services Group Inc. raised its holdings in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in ORIC Pharmaceuticals during the third quarter valued at $132,000. Intech Investment Management LLC purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth $200,000. Finally, JPMorgan Chase & Co. increased 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 worth $361,000 after buying an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 1.2 %

NASDAQ ORIC opened at $7.79 on Friday. The stock has a market cap of $553.30 million, a PE ratio of -4.28 and a beta of 1.25. ORIC Pharmaceuticals, Inc. has a 12 month low of $6.33 and a 12 month high of $15.37. The company’s 50-day moving average price is $9.17 and its 200-day moving average price is $9.32.

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

Insider Buying and Selling

In related news, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the sale, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock valued at $350,749 over the last quarter. 5.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Nine 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 target price of $18.86.

ORIC Pharmaceuticals 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.