Rhumbline Advisers Has $655,000 Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Rhumbline Advisers raised its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 53.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,702 shares of the company’s stock after purchasing an additional 32,402 shares during the quarter. Rhumbline Advisers owned 0.14% of ORIC Pharmaceuticals worth $655,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ORIC Pharmaceuticals by 62.0% in the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after acquiring an additional 71,394 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of ORIC Pharmaceuticals in the second quarter worth $724,000. Virtu Financial LLC acquired a new position in shares of ORIC Pharmaceuticals in the first quarter worth $225,000. Finally, NEA Management Company LLC acquired a new position in shares of ORIC Pharmaceuticals in the first quarter worth $20,625,000. 95.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ORIC. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. Oppenheimer dropped their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $18.00.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC stock opened at $10.75 on Wednesday. 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 $724.79 million, a PE ratio of -5.97 and a beta of 1.12. The firm’s 50 day moving average price is $10.06 and its two-hundred day moving average price is $9.88.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). As a group, sell-side analysts predict that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current fiscal year.

About ORIC Pharmaceuticals

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.