Boxer Capital Management LLC Makes New $13.98 Million Investment in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Boxer Capital Management LLC purchased a new position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,732,571 shares of the company's stock, valued at approximately $13,982,000. ORIC Pharmaceuticals makes up approximately 1.2% of Boxer Capital Management LLC's holdings, making the stock its 25th largest holding. Boxer Capital Management LLC owned about 2.46% of ORIC Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in ORIC Pharmaceuticals during the 4th quarter worth about $50,000. PNC Financial Services Group Inc. lifted its holdings in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 purchasing an additional 13,384 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock worth $121,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $164,000. Institutional investors own 95.05% of the company's stock.

Analyst Upgrades and Downgrades

ORIC has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.86.

ORIC Pharmaceuticals Stock Up 0.5 %

ORIC stock traded up $0.03 during midday trading on Monday, hitting $5.70. The company's stock had a trading volume of 505,522 shares, compared to its average volume of 636,767. ORIC Pharmaceuticals, Inc. has a 1 year low of $3.90 and a 1 year high of $14.67. The stock has a market cap of $405.18 million, a price-to-earnings ratio of -3.13 and a beta of 1.37. The stock's 50-day moving average price is $6.17 and its 200 day moving average price is $8.19.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.10. As a group, equities analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share 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.