ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 34.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 112,520 shares of the company's stock after purchasing an additional 28,570 shares during the period. Bank of America Corp DE owned about 0.16% of ORIC Pharmaceuticals worth $908,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in ORIC Pharmaceuticals by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock valued at $5,788,000 after purchasing an additional 103,237 shares during the last quarter. Wellington Management Group LLP increased its holdings in ORIC Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after purchasing an additional 12,042 shares during the last quarter. Diadema Partners LP acquired a new stake in ORIC Pharmaceuticals in the 4th quarter valued at approximately $1,729,000. NEOS Investment Management LLC acquired a new stake in ORIC Pharmaceuticals in the 4th quarter valued at approximately $367,000. Finally, Natixis acquired a new stake in ORIC Pharmaceuticals in the 4th quarter valued at approximately $645,000. Institutional investors and hedge funds own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC opened at $9.32 on Friday. The company has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $7.69. ORIC Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $14.67. The stock has a market capitalization of $662.54 million, a price-to-earnings ratio of -5.12 and a beta of 1.49.

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

Analysts Set New Price Targets

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

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.

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