JPMorgan Chase & Co. Has $14.74 Million Position in Oric Pharmaceuticals, Inc. $ORIC

JPMorgan Chase & Co. lessened its holdings in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,528 shares of the company’s stock after selling 106,920 shares during the period. JPMorgan Chase & Co. owned about 1.26% of Oric Pharmaceuticals worth $14,742,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alkeon Capital Management LLC increased its holdings 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 purchasing an additional 500,000 shares in the last quarter. Vivo Capital LLC boosted its position in shares of Oric Pharmaceuticals by 50.3% during the second quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock valued at $31,735,000 after buying an additional 1,046,154 shares during the last quarter. MPM Bioimpact LLC grew its holdings in Oric Pharmaceuticals by 23.6% during the second quarter. MPM Bioimpact LLC now owns 1,729,378 shares of the company’s stock worth $17,553,000 after buying an additional 329,864 shares in the last quarter. Franklin Resources Inc. raised its position in Oric Pharmaceuticals by 1.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,042,558 shares of the company’s stock valued at $10,582,000 after buying an additional 19,768 shares during the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in Oric Pharmaceuticals in the 2nd quarter valued at $9,657,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ORIC shares. Citigroup upped their target price on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. HC Wainwright boosted their price target on shares of Oric Pharmaceuticals from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Piper Sandler assumed coverage on shares of Oric Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Oric Pharmaceuticals Price Performance

Shares of ORIC stock opened at $13.51 on Thursday. The firm has a market cap of $1.36 billion, a P/E ratio of -8.89 and a beta of 1.28. The company has a 50 day moving average of $10.71 and a 200-day moving average of $11.09. Oric Pharmaceuticals, Inc. has a 12-month low of $3.90 and a 12-month high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. As a group, equities analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 33,374 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $302,368.44. Following the sale, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at $5,270,301.66. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief financial officer owned 68,148 shares of the company’s stock, valued at $920,679.48. This represents a 43.28% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 106,814 shares of company stock worth $1,199,135. 6.82% of the stock is owned by company insiders.

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.