Fred Alger Management LLC Acquires 63,535 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Fred Alger Management LLC lifted its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 40.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,447 shares of the company's stock after acquiring an additional 63,535 shares during the quarter. Fred Alger Management LLC owned approximately 0.31% of ORIC Pharmaceuticals worth $2,249,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ORIC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ORIC Pharmaceuticals by 162.3% during the second 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. Victory Capital Management Inc. lifted its position in ORIC Pharmaceuticals by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company's stock worth $1,022,000 after buying an additional 3,900 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company's stock valued at $155,000 after buying an additional 4,175 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company's stock valued at $139,000 after acquiring an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company's stock worth $73,000 after acquiring an additional 7,440 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Up 2.7 %

ORIC stock traded up $0.27 during midday trading on Monday, hitting $10.17. 298,101 shares of the company traded hands, compared to its average volume of 511,301. ORIC Pharmaceuticals, Inc. has a twelve month low of $6.33 and a twelve month high of $16.65. The stock has a market capitalization of $717.67 million, a price-to-earnings ratio of -5.65 and a beta of 1.13. The business has a 50 day simple moving average of $9.53 and a 200-day simple moving average of $9.35.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ORIC. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. HC Wainwright reiterated a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price objective on the stock. Stifel Nicolaus initiated 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 for the company. Finally, Oppenheimer decreased their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.29.

ORIC Pharmaceuticals 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.