Millennium Management LLC Boosts Stock Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Millennium Management LLC grew its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 297.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 782,299 shares of the company’s stock after purchasing an additional 585,447 shares during the quarter. Millennium Management LLC owned approximately 1.16% of ORIC Pharmaceuticals worth $5,531,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in ORIC Pharmaceuticals by 95.6% during the second quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock worth $240,000 after buying an additional 16,613 shares during the last quarter. Profund Advisors LLC lifted its stake in ORIC Pharmaceuticals by 23.6% in the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after purchasing an additional 4,175 shares during the last quarter. XTX Topco Ltd purchased a new stake in ORIC Pharmaceuticals in the second quarter worth $153,000. Dimensional Fund Advisors LP increased its position in ORIC Pharmaceuticals by 190.2% in the second quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock worth $3,299,000 after buying an additional 305,860 shares during the last quarter. Finally, First Turn Management LLC raised its stake in shares of ORIC Pharmaceuticals by 38.1% in the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after buying an additional 418,389 shares during the period. 95.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Finally, Oppenheimer cut their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.00.

ORIC Pharmaceuticals Stock Up 0.5 %

ORIC opened at $9.33 on Friday. The business’s fifty day simple moving average is $9.79 and its 200 day simple moving average is $9.52. ORIC Pharmaceuticals, Inc. has a 52 week low of $5.27 and a 52 week high of $16.65. The stock has a market cap of $658.14 million, a PE ratio of -5.33 and a beta of 1.12.

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