Rafferty Asset Management LLC Trims Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Rafferty Asset Management LLC lowered its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,392 shares of the company’s stock after selling 13,193 shares during the quarter. Rafferty Asset Management LLC owned about 0.07% of ORIC Pharmaceuticals worth $415,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in ORIC Pharmaceuticals in the 4th quarter worth about $50,000. BNP Paribas Financial Markets purchased a new position in ORIC Pharmaceuticals in the 4th quarter worth about $71,000. PNC Financial Services Group Inc. increased its stake in ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after buying an additional 2,520 shares during the period. Janus Henderson Group PLC purchased a new position in ORIC Pharmaceuticals in the 4th quarter worth about $118,000. Finally, Tower Research Capital LLC TRC increased its stake in ORIC Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company’s stock worth $118,000 after buying an additional 13,384 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $5.95 on Friday. The company has a market capitalization of $422.97 million, a price-to-earnings ratio of -3.27 and a beta of 1.37. The company’s 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $7.84. ORIC Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.09. Equities analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 6th. Oppenheimer cut their target price on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $19.17.

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.