Two Sigma Investments LP Decreases Stock Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Two Sigma Investments LP decreased its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,683 shares of the company's stock after selling 44,392 shares during the period. Two Sigma Investments LP owned 0.20% of ORIC Pharmaceuticals worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORIC. Boxer Capital Management LLC bought a new position in ORIC Pharmaceuticals during the 4th quarter valued at approximately $13,982,000. Schonfeld Strategic Advisors LLC bought a new position in ORIC Pharmaceuticals during the 4th quarter valued at approximately $5,845,000. Balyasny Asset Management L.P. raised its position in ORIC Pharmaceuticals by 37.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company's stock valued at $12,551,000 after purchasing an additional 424,194 shares during the last quarter. Diadema Partners LP bought a new position in ORIC Pharmaceuticals during the 4th quarter valued at approximately $1,729,000. Finally, Price T Rowe Associates Inc. MD raised its position in ORIC Pharmaceuticals by 16.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,295,025 shares of the company's stock valued at $10,452,000 after purchasing an additional 180,140 shares during the last quarter. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC Pharmaceuticals stock traded up $0.16 during midday trading on Friday, hitting $9.32. The company had a trading volume of 1,378,970 shares, compared to its average volume of 763,474. The stock has a market capitalization of $662.54 million, a P/E ratio of -5.12 and a beta of 1.49. ORIC Pharmaceuticals, Inc. has a 52-week low of $3.90 and a 52-week high of $14.67. The company has a 50 day moving average of $5.68 and a 200 day moving average of $7.70.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data 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. Equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ORIC. JPMorgan Chase & Co. upped their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, May 5th. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, May 6th. Wedbush reiterated an "outperform" rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, May 29th. Finally, Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price 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.