Adage Capital Partners GP L.L.C. Reduces Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Adage Capital Partners GP L.L.C. cut its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 500,000 shares of the company's stock after selling 75,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.71% of ORIC Pharmaceuticals worth $4,035,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ORIC. KLP Kapitalforvaltning AS purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at $50,000. PNC Financial Services Group Inc. lifted its stake in ORIC Pharmaceuticals by 22.9% in 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 during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of ORIC Pharmaceuticals by 1,048.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock valued at $118,000 after buying an additional 13,384 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 buying an additional 1,395 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth approximately $189,000. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Up 1.8 %

Shares of NASDAQ ORIC traded up $0.10 during mid-day trading on Friday, reaching $5.67. 482,668 shares of the company were exchanged, compared to its average volume of 635,853. The firm has a 50-day moving average of $6.17 and a 200 day moving average of $8.21. ORIC Pharmaceuticals, Inc. has a 1 year low of $3.90 and a 1 year high of $14.67. The stock has a market cap of $403.05 million, a price-to-earnings ratio of -3.12 and a beta of 1.38.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. On average, equities analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ORIC shares. JPMorgan Chase & Co. upped their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target 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.