ArrowMark Colorado Holdings LLC Acquires 80,986 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

ArrowMark Colorado Holdings LLC increased its holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,354,508 shares of the company’s stock after purchasing an additional 80,986 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in ORIC Pharmaceuticals were worth $13,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of ORIC Pharmaceuticals by 62.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after purchasing an additional 71,394 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in ORIC Pharmaceuticals during the 2nd quarter valued at about $724,000. Creative Planning acquired a new position in ORIC Pharmaceuticals in the third quarter valued at about $116,000. Monaco Asset Management SAM grew its stake in ORIC Pharmaceuticals by 132.0% during the second quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after buying an additional 171,650 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in ORIC Pharmaceuticals during the third quarter worth about $714,000. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 2.7 %

ORIC Pharmaceuticals stock opened at $10.17 on Tuesday. The business’s 50-day simple moving average is $9.53 and its 200 day simple moving average is $9.35. ORIC Pharmaceuticals, Inc. has a 12-month low of $6.33 and a 12-month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Oppenheimer reduced their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $18.29.

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.