China Universal Asset Management Co. Ltd. Invests $58,000 in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

China Universal Asset Management Co. Ltd. acquired a new position in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,305 shares of the company’s stock, valued at approximately $58,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of ORIC Pharmaceuticals by 44.1% during the third quarter. Vanguard Group Inc. now owns 2,588,869 shares of the company’s stock worth $15,663,000 after acquiring an additional 791,843 shares in the last quarter. Euclidean Capital LLC grew its position in ORIC Pharmaceuticals by 32.4% in the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after purchasing an additional 241,860 shares in the last quarter. American Century Companies Inc. grew its position in ORIC Pharmaceuticals by 71.1% in the third quarter. American Century Companies Inc. now owns 32,436 shares of the company’s stock valued at $196,000 after purchasing an additional 13,477 shares in the last quarter. Deutsche Bank AG grew its position in ORIC Pharmaceuticals by 17.4% in the third quarter. Deutsche Bank AG now owns 25,743 shares of the company’s stock valued at $156,000 after purchasing an additional 3,808 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its position in ORIC Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock valued at $21,050,000 after purchasing an additional 500,000 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

Analyst Ratings Changes

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

ORIC Pharmaceuticals Price Performance

ORIC stock opened at $10.97 on Monday. ORIC Pharmaceuticals, Inc. has a 12 month low of $4.89 and a 12 month high of $16.65. The company’s 50-day moving average price is $12.83 and its two-hundred day moving average price is $9.48.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). On average, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at ORIC Pharmaceuticals

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

ORIC Pharmaceuticals Company 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.