PNC Financial Services Group Inc. Raises Stock Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

PNC Financial Services Group Inc. raised its stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,517 shares of the company’s stock after purchasing an additional 2,520 shares during the period. PNC Financial Services Group Inc.’s holdings in ORIC Pharmaceuticals were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ORIC. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ORIC Pharmaceuticals during the 3rd quarter worth approximately $132,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after buying an additional 1,395 shares during the last quarter. Intech Investment Management LLC purchased a new stake in ORIC Pharmaceuticals during the 3rd quarter valued at about $200,000. JPMorgan Chase & Co. raised its stake in shares of ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of ORIC Pharmaceuticals by 25.6% during the third quarter. Verition Fund Management LLC now owns 42,980 shares of the company’s stock worth $441,000 after purchasing an additional 8,752 shares during the period. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Down 8.4 %

Shares of ORIC stock opened at $6.75 on Wednesday. ORIC Pharmaceuticals, Inc. has a 12-month low of $6.33 and a 12-month high of $14.67. The business’s 50 day moving average is $8.99 and its two-hundred day moving average is $9.19. The company has a market capitalization of $479.43 million, a P/E ratio of -3.71 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. On average, research analysts predict that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ORIC has been the topic of several research reports. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals has an average rating of “Buy” and an average target price of $18.86.

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.