NEOS Investment Management LLC Buys New Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

NEOS Investment Management LLC bought a new stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ORIC Pharmaceuticals by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,203,789 shares of the company's stock valued at $25,855,000 after buying an additional 36,478 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in ORIC Pharmaceuticals in the 4th quarter valued at about $50,000. American Century Companies Inc. raised its holdings in ORIC Pharmaceuticals by 8.4% in the 4th quarter. American Century Companies Inc. now owns 107,862 shares of the company's stock valued at $870,000 after acquiring an additional 8,359 shares during the last quarter. Swiss National Bank lifted its stake in ORIC Pharmaceuticals by 5.4% in the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock worth $504,000 after purchasing an additional 3,200 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of ORIC Pharmaceuticals by 2,597.8% during the 4th quarter. AlphaQuest LLC now owns 28,435 shares of the company's stock worth $229,000 after purchasing an additional 27,381 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

ORIC Pharmaceuticals Stock Down 7.2 %

NASDAQ:ORIC traded down $0.38 during trading hours on Friday, reaching $4.88. 1,074,081 shares of the stock were exchanged, compared to its average volume of 621,978. ORIC Pharmaceuticals, Inc. has a twelve month low of $4.79 and a twelve month high of $14.67. The business has a 50-day moving average of $8.28 and a two-hundred day moving average of $8.96. The company has a market capitalization of $346.61 million, a price-to-earnings ratio of -2.68 and a beta of 1.38.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its 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. On average, research analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 EPS 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.