ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lowered its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 500,000 shares of the company's stock after selling 75,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.71% of ORIC Pharmaceuticals worth $4,035,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ORIC. JPMorgan Chase & Co. upped their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wedbush restated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Finally, Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $18.86.

ORIC Pharmaceuticals Stock Performance

ORIC stock traded up $0.04 during trading on Monday, reaching $5.71. The company had a trading volume of 70,272 shares, compared to its average volume of 961,757. ORIC Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.67. The company has a market cap of $405.54 million, a price-to-earnings ratio of -3.14 and a beta of 1.37. The firm has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $8.19.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.01. Sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

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.