Charles Schwab Investment Management Inc. Purchases 7,726 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Charles Schwab Investment Management Inc. boosted its position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 417,955 shares of the company’s stock after acquiring an additional 7,726 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of ORIC Pharmaceuticals worth $3,373,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 4.1% during the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ORIC Pharmaceuticals in the 3rd quarter worth approximately $132,000. Intech Investment Management LLC purchased a new stake in ORIC Pharmaceuticals in the 3rd quarter worth approximately $200,000. Alkeon Capital Management LLC grew its position in shares of ORIC Pharmaceuticals by 2.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock worth $40,017,000 after buying an additional 100,000 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of ORIC Pharmaceuticals by 25.6% during the third quarter. Verition Fund Management LLC now owns 42,980 shares of the company’s stock valued at $441,000 after buying an additional 8,752 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC opened at $6.29 on Friday. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $14.67. The firm’s 50-day simple moving average is $8.81 and its two-hundred day simple moving average is $9.15. The stock has a market cap of $446.76 million, a PE ratio of -3.46 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.01. Equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ORIC. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. 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. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.86.

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.