China Universal Asset Management Co. Ltd. Acquires 5,646 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

China Universal Asset Management Co. Ltd. increased its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 71.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,568 shares of the company’s stock after purchasing an additional 5,646 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in ORIC Pharmaceuticals were worth $139,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ORIC. Hennion & Walsh Asset Management Inc. grew its stake in shares of ORIC Pharmaceuticals by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 137,962 shares of the company’s stock worth $1,414,000 after acquiring an additional 35,528 shares during the period. Creative Planning purchased a new stake in ORIC Pharmaceuticals during the 3rd quarter valued at $116,000. SG Americas Securities LLC bought a new position in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $714,000. The Manufacturers Life Insurance Company boosted its stake in shares of ORIC Pharmaceuticals by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock worth $929,000 after buying an additional 9,424 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of ORIC Pharmaceuticals by 297.4% in the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after acquiring an additional 585,447 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $9.38 on Friday. The stock has a 50 day moving average price of $9.73 and a 200-day moving average price of $9.26. ORIC Pharmaceuticals, Inc. has a one year low of $5.85 and a one year high of $16.65. The company has a market capitalization of $661.68 million, a P/E ratio of -5.36 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, equities analysts predict that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research note on Thursday. They issued an “overweight” rating and a $20.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Finally, Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average price target of $18.29.

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.