China Universal Asset Management Co. Ltd. Raises Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

China Universal Asset Management Co. Ltd. grew its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 71.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,568 shares of the company’s stock after buying an additional 5,646 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in ORIC Pharmaceuticals were worth $139,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ORIC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the period. Profund Advisors LLC grew its stake in shares of ORIC Pharmaceuticals by 23.6% in the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after purchasing an additional 4,175 shares during the last quarter. Victory Capital Management Inc. increased its holdings in ORIC Pharmaceuticals by 8.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock valued at $678,000 after purchasing an additional 7,310 shares during the period. Quest Partners LLC lifted its holdings in 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 period. Finally, The Manufacturers Life Insurance Company grew its position in shares of ORIC Pharmaceuticals by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock worth $929,000 after buying an additional 9,424 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Oppenheimer cut their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a report on Thursday. They set an “overweight” rating and a $20.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $9.38 on Friday. The company has a 50 day simple moving average of $9.73 and a two-hundred day simple moving average of $9.26. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $16.65. The company has a market capitalization of $661.68 million, a price-to-earnings ratio of -5.36 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). On average, analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.8 earnings per share for the current fiscal 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.