ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,555,260 shares of the company's stock after purchasing an additional 424,194 shares during the quarter. Balyasny Asset Management L.P. owned 2.20% of ORIC Pharmaceuticals worth $12,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in ORIC Pharmaceuticals during the fourth quarter worth $50,000. BNP Paribas Financial Markets acquired a new position in ORIC Pharmaceuticals in the 4th quarter worth about $71,000. PNC Financial Services Group Inc. increased its holdings in ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after purchasing an additional 2,520 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in 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 worth $118,000 after purchasing an additional 13,384 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in ORIC Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock worth $121,000 after purchasing an additional 1,395 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC traded up $0.33 during midday trading on Monday, hitting $5.41. 385,131 shares of the stock traded hands, compared to its average volume of 644,288. The firm has a 50-day moving average of $5.90 and a two-hundred day moving average of $8.06. The firm has a market capitalization of $384.59 million, a P/E ratio of -2.97 and a beta of 1.37. ORIC Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $14.67.

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

Analyst Ratings Changes

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

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.