Silverarc Capital Management LLC Acquires 78,810 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Silverarc Capital Management LLC boosted its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,178,300 shares of the company's stock after buying an additional 78,810 shares during the quarter. ORIC Pharmaceuticals makes up about 2.1% of Silverarc Capital Management LLC's portfolio, making the stock its 17th biggest position. Silverarc Capital Management LLC owned about 1.67% of ORIC Pharmaceuticals worth $9,509,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company's stock valued at $1,100,000 after purchasing an additional 56,474 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after buying an additional 196,804 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of ORIC Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after acquiring an additional 12,042 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $367,000. Finally, PNC Financial Services Group Inc. raised its holdings in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

ORIC traded down $0.09 on Friday, reaching $5.10. The company had a trading volume of 362,897 shares, compared to its average volume of 634,534. The company's fifty day moving average is $6.44 and its 200 day moving average is $8.37. The stock has a market cap of $362.24 million, a P/E ratio of -2.80 and a beta of 1.38. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.01. On average, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Analyst Ratings Changes

ORIC has been the subject of a number of analyst reports. Wedbush restated 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 reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $18.86.

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.