ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 42.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,388 shares of the company’s stock after buying an additional 51,565 shares during the period. Wellington Management Group LLP owned about 0.25% of ORIC Pharmaceuticals worth $1,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares in the last quarter. Quest Partners LLC boosted its position in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the period. Creative Planning purchased a new position in ORIC Pharmaceuticals in the 3rd quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ORIC Pharmaceuticals during the 3rd quarter worth about $132,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after buying an additional 5,646 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Insider Activity

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the transaction, the chief executive officer now owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dominic Piscitelli sold 8,851 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,286.28. Following the completion of the sale, the chief financial officer now owns 106,764 shares of the company’s stock, valued at $884,005.92. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ORIC has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $7.68 on Thursday. The business’s 50-day simple moving average is $9.33 and its 200-day simple moving average is $9.36. ORIC Pharmaceuticals, Inc. has a 52 week low of $6.33 and a 52 week high of $16.65. The firm has a market cap of $541.95 million, a price-to-earnings ratio of -4.27 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

About ORIC Pharmaceuticals

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.