Frazier Life Sciences Management L.P. Has $31.38 Million Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Frazier Life Sciences Management L.P. lowered its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,888,238 shares of the company's stock after selling 254,617 shares during the quarter. ORIC Pharmaceuticals accounts for about 1.3% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 20th biggest position. Frazier Life Sciences Management L.P. owned about 5.51% of ORIC Pharmaceuticals worth $31,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ORIC. JPMorgan Chase & Co. raised its stake in ORIC Pharmaceuticals by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company's stock worth $361,000 after acquiring an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 during the last quarter. Invesco Ltd. increased its position in shares of ORIC Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company's stock worth $193,000 after purchasing an additional 1,876 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of ORIC Pharmaceuticals by 22.9% during 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. Finally, Swiss National Bank lifted its holdings in ORIC Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock valued at $504,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 95.05% of the company's stock.

Analysts Set New Price Targets

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

ORIC Pharmaceuticals Stock Performance

ORIC traded up $0.40 during mid-day trading on Friday, reaching $6.35. The stock had a trading volume of 911,637 shares, compared to its average volume of 657,399. The firm's fifty day simple moving average is $5.41 and its two-hundred day simple moving average is $7.82. The stock has a market capitalization of $451.41 million, a P/E ratio of -3.49 and a beta of 1.37. ORIC Pharmaceuticals, Inc. has a 52 week low of $3.90 and a 52 week 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, beating the consensus estimate of ($0.51) by $0.09. As a group, analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

About ORIC Pharmaceuticals

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.