First Turn Management LLC Lowers Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

First Turn Management LLC trimmed its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,451,037 shares of the company’s stock after selling 64,923 shares during the period. ORIC Pharmaceuticals makes up 2.4% of First Turn Management LLC’s investment portfolio, making the stock its 20th largest position. First Turn Management LLC’s holdings in ORIC Pharmaceuticals were worth $14,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in ORIC Pharmaceuticals by 4.1% during the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after buying an additional 3,900 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 71.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of ORIC Pharmaceuticals by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 137,962 shares of the company’s stock worth $1,414,000 after buying an additional 35,528 shares during the period. Creative Planning purchased a new position in shares of ORIC Pharmaceuticals in the third quarter worth about $116,000. Finally, SG Americas Securities LLC purchased a new position in shares of ORIC Pharmaceuticals in the third quarter worth about $714,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORIC. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Price Performance

Shares of ORIC opened at $8.56 on Tuesday. ORIC Pharmaceuticals, Inc. has a 1-year low of $6.33 and a 1-year high of $16.65. The company’s fifty day moving average price is $9.69 and its 200-day moving average price is $9.33.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.85 EPS for the current fiscal year.

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.