First Turn Management LLC Buys 418,389 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

First Turn Management LLC boosted its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,515,960 shares of the company’s stock after purchasing an additional 418,389 shares during the period. First Turn Management LLC owned about 2.25% of ORIC Pharmaceuticals worth $10,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after purchasing an additional 629,536 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after purchasing an additional 915,175 shares during the last quarter. NEA Management Company LLC bought a new position in shares of ORIC Pharmaceuticals in the 1st quarter worth approximately $20,625,000. Monaco Asset Management SAM boosted its holdings in shares of ORIC Pharmaceuticals by 132.0% in 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, Bank of New York Mellon Corp grew its position in ORIC Pharmaceuticals by 62.0% during the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after buying an additional 71,394 shares during the period. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Down 8.5 %

Shares of ORIC Pharmaceuticals stock opened at $9.06 on Friday. The company has a fifty day moving average of $9.86 and a 200 day moving average of $10.14. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $5.27 and a fifty-two week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). On average, analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Oppenheimer decreased 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. Stifel Nicolaus started 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. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Wednesday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.00.

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.