Diadema Partners LP Invests $1.73 Million in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Diadema Partners LP acquired a new position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 214,291 shares of the company's stock, valued at approximately $1,729,000. Diadema Partners LP owned approximately 0.30% of ORIC Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORIC. Tower Research Capital LLC TRC increased its position in ORIC Pharmaceuticals by 1,048.1% in the fourth 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 during the period. MetLife Investment Management LLC raised its stake in shares of ORIC Pharmaceuticals by 15.3% during the fourth quarter. MetLife Investment Management LLC now owns 41,608 shares of the company's stock worth $336,000 after buying an additional 5,530 shares during the last quarter. Natixis acquired a new position in ORIC Pharmaceuticals in the fourth quarter valued at approximately $645,000. Dimensional Fund Advisors LP lifted its holdings in ORIC Pharmaceuticals by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock valued at $5,788,000 after buying an additional 103,237 shares during the period. Finally, XTX Topco Ltd boosted its stake in ORIC Pharmaceuticals by 120.9% in the fourth quarter. XTX Topco Ltd now owns 25,966 shares of the company's stock valued at $210,000 after acquiring an additional 14,209 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORIC has been the subject of a number of analyst reports. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $18.86.

ORIC Pharmaceuticals Stock Performance

ORIC Pharmaceuticals stock traded down $0.09 during mid-day trading on Friday, reaching $5.10. The company's stock had a trading volume of 362,897 shares, compared to its average volume of 635,470. The business's 50 day simple moving average is $6.39 and its 200 day simple moving average is $8.34. ORIC Pharmaceuticals, Inc. has a 12 month low of $3.90 and a 12 month high of $14.67. The company has a market capitalization of $362.24 million, a price-to-earnings ratio of -2.80 and a beta of 1.38.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01. As a group, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current 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.