Alkeon Capital Management LLC Raises Stock Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Alkeon Capital Management LLC grew its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,904,096 shares of the company's stock after buying an additional 100,000 shares during the period. Alkeon Capital Management LLC owned 5.53% of ORIC Pharmaceuticals worth $40,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in ORIC Pharmaceuticals by 27.9% during the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company's stock valued at $39,628,000 after purchasing an additional 629,536 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ORIC Pharmaceuticals by 140.5% during the first 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 period. Virtu Financial LLC purchased a new position in shares of ORIC Pharmaceuticals during the first quarter valued at about $225,000. Hennion & Walsh Asset Management Inc. bought a new position in ORIC Pharmaceuticals in the second quarter worth about $724,000. Finally, Bank of New York Mellon Corp lifted its holdings in ORIC Pharmaceuticals by 62.0% in the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company's stock worth $1,318,000 after buying an additional 71,394 shares during the period. Institutional investors own 95.05% of the company's stock.

Analyst Ratings Changes

ORIC has been the subject of several research reports. Oppenheimer decreased their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $18.29.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock traded down $0.07 during mid-day trading on Friday, reaching $9.90. The stock had a trading volume of 166,833 shares, compared to its average volume of 512,225. The company has a market capitalization of $698.64 million, a price-to-earnings ratio of -5.50 and a beta of 1.13. ORIC Pharmaceuticals, Inc. has a one year low of $6.33 and a one year high of $16.65. The company has a 50-day moving average price of $9.54 and a two-hundred day moving average price of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.01). On average, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 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.