Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,043 shares of the company’s stock after acquiring an additional 1,362 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ORIC Pharmaceuticals were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new stake in ORIC Pharmaceuticals in the fourth quarter worth $58,000. Sherbrooke Park Advisers LLC purchased a new stake in ORIC Pharmaceuticals in the third quarter worth $72,000. Algert Global LLC purchased a new stake in ORIC Pharmaceuticals in the third quarter worth $81,000. Jump Financial LLC increased its position in ORIC Pharmaceuticals by 104.8% in the third quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock worth $195,000 after buying an additional 16,449 shares during the last quarter. Finally, Monaco Asset Management SAM increased its position in ORIC Pharmaceuticals by 1.7% in the third quarter. Monaco Asset Management SAM now owns 384,793 shares of the company’s stock worth $2,328,000 after buying an additional 6,571 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORIC has been the subject of a number of recent research reports. Wedbush raised their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Cantor Fitzgerald started coverage on ORIC Pharmaceuticals in a research report on Friday, February 23rd. They issued an “overweight” rating for the company. JPMorgan Chase & Co. cut their price target on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Finally, HC Wainwright raised their price target on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $19.80.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $8.07 on Friday. The firm has a market capitalization of $544.08 million, a P/E ratio of -4.12 and a beta of 1.04. ORIC Pharmaceuticals, Inc. has a one year low of $4.90 and a one year high of $16.65. The business has a fifty day moving average price of $12.13 and a 200-day moving average price of $9.75.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.49). Sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 13,958 shares of ORIC Pharmaceuticals stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction of $169,170.96. Following the completion of the sale, the chief executive officer now owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.34% of the company’s stock.

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.