Arizona State Retirement System Invests $56,000 in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)

Arizona State Retirement System acquired a new position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,088 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its stake in Oric Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock valued at $193,000 after purchasing an additional 1,876 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Oric Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares during the last quarter. Swiss National Bank raised its stake in Oric Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company’s stock valued at $504,000 after purchasing an additional 3,200 shares during the last quarter. ProShare Advisors LLC raised its stake in Oric Pharmaceuticals by 30.9% during the 4th quarter. ProShare Advisors LLC now owns 20,683 shares of the company’s stock valued at $167,000 after purchasing an additional 4,881 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Oric Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,278,713 shares of the company’s stock valued at $10,321,000 after purchasing an additional 5,200 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $11.80 on Thursday. The firm has a market capitalization of $1.01 billion, a PE ratio of -6.31 and a beta of 1.54. The company’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $8.04. Oric Pharmaceuticals, Inc. has a 52-week low of $3.90 and a 52-week high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. Analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Angie You bought 26,597 shares of the stock in a transaction dated Friday, June 20th. The shares were acquired at an average price of $9.39 per share, with a total value of $249,745.83. Following the acquisition, the director owned 26,597 shares in the company, valued at $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dominic Piscitelli sold 32,466 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total transaction of $340,893.00. Following the completion of the sale, the chief financial officer directly owned 68,317 shares in the company, valued at approximately $717,328.50. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock worth $416,289. 6.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ORIC. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Oppenheimer lowered their price target on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Finally, LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a “buy” rating and a $15.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.57.

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.