Charles Schwab Investment Management Inc. Increases Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Charles Schwab Investment Management Inc. lifted its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 152.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,229 shares of the company's stock after purchasing an additional 247,863 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.58% of ORIC Pharmaceuticals worth $4,205,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ORIC. First Turn Management LLC boosted its stake in ORIC Pharmaceuticals by 38.1% in the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company's stock worth $10,718,000 after buying an additional 418,389 shares in the last quarter. Millennium Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company's stock valued at $5,531,000 after purchasing an additional 585,447 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ORIC Pharmaceuticals by 190.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company's stock valued at $3,299,000 after purchasing an additional 305,860 shares during the last quarter. Monaco Asset Management SAM raised its position in ORIC Pharmaceuticals by 132.0% in the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company's stock worth $2,133,000 after purchasing an additional 171,650 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 71,394 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORIC has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an "overweight" rating and a $20.00 price objective for the company. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a "buy" rating and a $20.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Finally, HC Wainwright restated a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $18.29.

ORIC Pharmaceuticals Stock Up 1.1 %

Shares of ORIC traded up $0.09 during trading hours on Friday, reaching $8.52. 325,201 shares of the company traded hands, compared to its average volume of 501,309. ORIC Pharmaceuticals, Inc. has a 12 month low of $6.33 and a 12 month high of $16.65. The company has a market capitalization of $601.23 million, a price-to-earnings ratio of -4.73 and a beta of 1.13. The company's fifty day moving average price is $9.38 and its two-hundred day moving average price is $9.37.

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