Profund Advisors LLC Increases Stock Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Profund Advisors LLC increased its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 23.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 21,861 shares of the company’s stock after acquiring an additional 4,175 shares during the period. Profund Advisors LLC’s holdings in ORIC Pharmaceuticals were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ORIC. China Universal Asset Management Co. Ltd. lifted its position in shares of ORIC Pharmaceuticals by 104.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock worth $178,000 after purchasing an additional 6,617 shares in the last quarter. ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals in the 1st quarter worth $161,000. Vanguard Group Inc. lifted its holdings in ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after buying an additional 629,536 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ORIC Pharmaceuticals by 140.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after buying an additional 915,175 shares during the last quarter. Finally, NEA Management Company LLC acquired a new stake in shares of ORIC Pharmaceuticals during the first quarter valued at about $20,625,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Oppenheimer cut their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Finally, Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $18.00.

ORIC Pharmaceuticals Price Performance

Shares of ORIC opened at $10.65 on Monday. The stock has a market capitalization of $751.25 million, a PE ratio of -5.92 and a beta of 1.12. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $9.83. ORIC Pharmaceuticals, Inc. has a 12-month low of $5.27 and a 12-month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.8 earnings per share for the current fiscal year.

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.