Bank of America Corp DE Acquires 28,570 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Bank of America Corp DE raised its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,520 shares of the company's stock after purchasing an additional 28,570 shares during the quarter. Bank of America Corp DE owned about 0.16% of ORIC Pharmaceuticals worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in ORIC Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company's stock valued at $193,000 after purchasing an additional 1,876 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. Swiss National Bank boosted its stake in shares of ORIC Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock worth $504,000 after acquiring an additional 3,200 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of ORIC Pharmaceuticals by 4.6% during the 4th quarter. Rhumbline Advisers now owns 93,319 shares of the company's stock worth $753,000 after acquiring an additional 4,072 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,278,713 shares of the company's stock worth $10,321,000 after acquiring an additional 5,200 shares in the last quarter. 95.05% of the stock is owned by institutional investors.

Insider Activity at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 2,976 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $10.01, for a total transaction of $29,789.76. Following the transaction, the chief financial officer now directly owns 102,117 shares in the company, valued at $1,022,191.17. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 6,200 shares of company stock valued at $62,056. Insiders own 6.82% of the company's stock.

ORIC Pharmaceuticals Stock Down 3.7%

Shares of ORIC Pharmaceuticals stock traded down $0.36 during midday trading on Wednesday, hitting $9.39. The company's stock had a trading volume of 773,771 shares, compared to its average volume of 772,127. The firm has a market capitalization of $667.52 million, a P/E ratio of -5.16 and a beta of 1.49. ORIC Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67. The stock has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $7.71.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data 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 predict that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ORIC shares. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 6th. Guggenheim reissued a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer reduced their price objective on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, May 29th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. 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 a consensus price target 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.