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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORIC. KLP Kapitalforvaltning AS purchased a new stake in ORIC Pharmaceuticals during the fourth quarter valued at approximately $50,000. BNP Paribas Financial Markets purchased a new position in ORIC Pharmaceuticals during the fourth quarter worth $71,000. PNC Financial Services Group Inc. increased its position 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 valued at $109,000 after acquiring an additional 2,520 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 valued at $118,000 after acquiring an additional 13,384 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of ORIC Pharmaceuticals in the 4th quarter worth about $118,000. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC Pharmaceuticals stock traded up $0.54 during trading hours on Monday, hitting $9.86. The company's stock had a trading volume of 1,169,062 shares, compared to its average volume of 767,331. The firm has a fifty day moving average of $5.68 and a 200-day moving average of $7.68. The stock has a market cap of $700.93 million, a price-to-earnings ratio of -5.42 and a beta of 1.49. ORIC Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.09. On average, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 6th. Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer reduced their price target on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised 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. Finally, Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, May 29th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $19.17.

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.