Sphera Funds Management LTD. Acquires 144,817 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Sphera Funds Management LTD. lifted its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 112.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,213 shares of the company’s stock after acquiring an additional 144,817 shares during the period. Sphera Funds Management LTD. owned approximately 0.39% of ORIC Pharmaceuticals worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORIC. KLP Kapitalforvaltning AS bought a new stake in ORIC Pharmaceuticals during the 4th quarter worth about $50,000. BNP Paribas Financial Markets bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $71,000. PNC Financial Services Group Inc. grew its holdings in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of ORIC Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company’s stock valued at $118,000 after acquiring an additional 13,384 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $118,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on ORIC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, May 6th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, May 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $19.17.

ORIC Pharmaceuticals Stock Down 2.5%

ORIC opened at $4.74 on Friday. The stock has a market capitalization of $336.96 million, a price-to-earnings ratio of -2.60 and a beta of 1.37. ORIC Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.67. The company has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $7.98.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. Sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal 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.