NEOS Investment Management LLC Invests $367,000 in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

NEOS Investment Management LLC acquired a new stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,476 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. Intech Investment Management LLC bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth $200,000. Charles Schwab Investment Management Inc. raised its position in shares of ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of ORIC Pharmaceuticals by 25.6% during the 3rd quarter. Verition Fund Management LLC now owns 42,980 shares of the company’s stock worth $441,000 after acquiring an additional 8,752 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in ORIC Pharmaceuticals by 40.8% in the third quarter. Fred Alger Management LLC now owns 219,447 shares of the company’s stock worth $2,249,000 after acquiring an additional 63,535 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Stock Down 9.1 %

Shares of NASDAQ ORIC opened at $5.58 on Tuesday. The firm’s fifty day moving average is $8.66 and its 200 day moving average is $9.09. ORIC Pharmaceuticals, Inc. has a 52 week low of $5.53 and a 52 week high of $14.67. The company has a market cap of $396.33 million, a price-to-earnings ratio of -3.07 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data 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. Equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.