Squarepoint Ops LLC Buys 16,613 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Squarepoint Ops LLC raised its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 95.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,984 shares of the company’s stock after acquiring an additional 16,613 shares during the period. Squarepoint Ops LLC owned about 0.05% of ORIC Pharmaceuticals worth $240,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after purchasing an additional 3,188 shares in the last quarter. Quest Partners LLC boosted its stake 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 worth $73,000 after buying an additional 7,440 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of ORIC Pharmaceuticals in the first quarter valued at approximately $161,000. China Universal Asset Management Co. Ltd. increased 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 valued at $178,000 after acquiring an additional 6,617 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in ORIC Pharmaceuticals in the first quarter worth $225,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ORIC has been the topic of a number of recent analyst reports. Oppenheimer lowered their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. 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 on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.00.

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $9.33 on Friday. ORIC Pharmaceuticals, Inc. has a 1 year low of $5.27 and a 1 year high of $16.65. The stock has a market capitalization of $658.14 million, a price-to-earnings ratio of -5.33 and a beta of 1.12. The company’s fifty day simple moving average is $9.79 and its two-hundred day simple moving average is $9.49.

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