NEOS Investment Management LLC Purchases Shares of 45,476 ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

NEOS Investment Management LLC bought a new position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 45,476 shares of the company's stock, valued at approximately $367,000. NEOS Investment Management LLC owned about 0.06% of ORIC Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ORIC. Charles Schwab Investment Management Inc. grew its position in ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company's stock worth $4,205,000 after purchasing an additional 247,863 shares in the last quarter. Franklin Resources Inc. raised its position in ORIC Pharmaceuticals by 26.1% during the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock valued at $9,067,000 after buying an additional 196,804 shares during the period. Sphera Funds Management LTD. purchased a new stake in ORIC Pharmaceuticals in the 3rd quarter worth about $1,316,000. ArrowMark Colorado Holdings LLC boosted its position in ORIC Pharmaceuticals by 6.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,354,508 shares of the company's stock worth $13,884,000 after acquiring an additional 80,986 shares during the period. Finally, Fred Alger Management LLC grew its stake in ORIC Pharmaceuticals by 40.8% during the 3rd quarter. Fred Alger Management LLC now owns 219,447 shares of the company's stock valued at $2,249,000 after acquiring an additional 63,535 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC traded down $0.52 during mid-day trading on Thursday, reaching $5.26. 1,071,260 shares of the company traded hands, compared to its average volume of 1,052,083. The company's fifty day moving average is $8.49 and its two-hundred day moving average is $9.03. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $14.67. The stock has a market cap of $373.60 million, a PE ratio of -2.89 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01. Research analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

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.