NEA Management Company LLC Has $12.64 Million Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

NEA Management Company LLC increased its position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,566,081 shares of the company's stock after purchasing an additional 66,081 shares during the period. ORIC Pharmaceuticals makes up about 0.7% of NEA Management Company LLC's portfolio, making the stock its 21st biggest holding. NEA Management Company LLC owned approximately 2.22% of ORIC Pharmaceuticals worth $12,638,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company's stock worth $1,100,000 after buying an additional 56,474 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after acquiring an additional 196,804 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ORIC Pharmaceuticals by 3.8% in 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 during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ORIC Pharmaceuticals by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 162,909 shares of the company's stock worth $1,315,000 after acquiring an additional 24,947 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of ORIC Pharmaceuticals by 10.3% in 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 during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, May 5th. Finally, Oppenheimer dropped their price objective on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $19.17.

ORIC Pharmaceuticals Stock Down 0.2%

ORIC Pharmaceuticals stock traded down $0.01 during mid-day trading on Friday, hitting $4.73. 605,529 shares of the stock were exchanged, compared to its average volume of 647,109. ORIC Pharmaceuticals, Inc. has a 12 month low of $3.90 and a 12 month high of $14.67. The firm's fifty day simple moving average is $5.61 and its two-hundred day simple moving average is $7.95. The stock has a market capitalization of $336.25 million, a price-to-earnings ratio of -2.60 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. As a group, analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share 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.