Millennium Management LLC Sells 265,889 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Millennium Management LLC decreased its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 90.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,634 shares of the company's stock after selling 265,889 shares during the quarter. Millennium Management LLC's holdings in ORIC Pharmaceuticals were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ORIC. Bank of America Corp DE grew its position in shares of ORIC Pharmaceuticals by 34.0% during the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company's stock worth $908,000 after buying an additional 28,570 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ORIC Pharmaceuticals by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock valued at $5,788,000 after acquiring an additional 103,237 shares during the period. Wellington Management Group LLP raised its stake in shares of ORIC Pharmaceuticals by 6.9% during the fourth quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock worth $1,504,000 after purchasing an additional 12,042 shares during the last quarter. Diadema Partners LP purchased a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth approximately $1,729,000. Finally, NEOS Investment Management LLC purchased a new position in ORIC Pharmaceuticals in the fourth quarter worth $367,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Trading Down 0.4%

ORIC stock traded down $0.04 during mid-day trading on Friday, hitting $9.63. The stock had a trading volume of 714,124 shares, compared to its average volume of 775,451. ORIC Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67. The company has a fifty day moving average of $6.15 and a 200 day moving average of $7.69. The stock has a market capitalization of $820.71 million, a price-to-earnings ratio of -5.29 and a beta of 1.49.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.09. As a group, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 2,600 shares of ORIC Pharmaceuticals stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.01, for a total value of $26,026.00. Following the completion of the transaction, the chief financial officer now owns 104,164 shares in the company, valued at approximately $1,042,681.64. The trade was a 2.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 6,500 shares of company stock worth $65,056. 6.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORIC. JPMorgan Chase & Co. raised their price target on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 6th. Oppenheimer cut their price objective on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Wedbush reiterated an "outperform" rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, May 29th. Finally, Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $19.17.

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.