Fred Alger Management LLC Has $2.25 Million Stock Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Fred Alger Management LLC boosted its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 40.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 219,447 shares of the company’s stock after purchasing an additional 63,535 shares during the quarter. Fred Alger Management LLC owned about 0.31% of ORIC Pharmaceuticals worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares during the period. Millennium Management LLC increased its stake in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after acquiring an additional 585,447 shares during the last quarter. First Turn Management LLC raised its position in shares of ORIC Pharmaceuticals by 38.1% in the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after acquiring an additional 418,389 shares during the period. Dimensional Fund Advisors LP boosted its stake in ORIC Pharmaceuticals by 190.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock worth $3,299,000 after acquiring an additional 305,860 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after purchasing an additional 247,863 shares during the period. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Down 0.7 %

NASDAQ:ORIC opened at $9.90 on Monday. The company has a market cap of $698.61 million, a P/E ratio of -5.50 and a beta of 1.13. ORIC Pharmaceuticals, Inc. has a twelve month low of $6.33 and a twelve month high of $16.65. The business has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ORIC shares. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Oppenheimer decreased their price objective on 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, Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals 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.