Janus Henderson Group PLC Acquires New Position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

Janus Henderson Group PLC bought a new position in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,600 shares of the company’s stock, valued at approximately $118,000.

A number of other institutional investors have also modified their holdings of ORIC. Dimensional Fund Advisors LP grew its stake in ORIC Pharmaceuticals by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company’s stock worth $5,788,000 after purchasing an additional 103,237 shares in the last quarter. Wellington Management Group LLP grew its position in shares of ORIC Pharmaceuticals by 6.9% during the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock worth $1,504,000 after buying an additional 12,042 shares in the last quarter. Diadema Partners LP purchased a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at $1,729,000. NEOS Investment Management LLC bought a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $367,000. Finally, Natixis purchased a new stake in ORIC Pharmaceuticals in the fourth quarter worth about $645,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Trading Up 6.7%

Shares of ORIC stock opened at $6.35 on Monday. ORIC Pharmaceuticals, Inc. has a 12-month low of $3.90 and a 12-month high of $14.67. The business’s fifty day simple moving average is $5.41 and its 200-day simple moving average is $7.79. The company has a market cap of $451.41 million, a PE ratio of -3.49 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, equities analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ORIC. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer reduced their price objective on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $19.17.

ORIC Pharmaceuticals 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.