Hsbc Holdings PLC Makes New Investment in Oric Pharmaceuticals, Inc. $ORIC

Hsbc Holdings PLC bought a new position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,983 shares of the company’s stock, valued at approximately $102,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System purchased a new position in shares of Oric Pharmaceuticals in the 1st quarter worth $56,000. BNP Paribas Financial Markets purchased a new position in shares of Oric Pharmaceuticals in the 4th quarter worth $71,000. Legato Capital Management LLC purchased a new position in shares of Oric Pharmaceuticals in the 1st quarter worth $109,000. Janus Henderson Group PLC purchased a new position in shares of Oric Pharmaceuticals in the 4th quarter worth $118,000. Finally, ProShare Advisors LLC boosted its stake in shares of Oric Pharmaceuticals by 30.9% in the 4th quarter. ProShare Advisors LLC now owns 20,683 shares of the company’s stock worth $167,000 after buying an additional 4,881 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Stock Up 1.0%

Shares of Oric Pharmaceuticals stock opened at $10.88 on Friday. The stock’s 50-day simple moving average is $10.41 and its 200-day simple moving average is $8.08. Oric Pharmaceuticals, Inc. has a 52 week low of $3.90 and a 52 week high of $14.67. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.76 and a beta of 1.63.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.01). On average, equities analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Insider Activity at Oric Pharmaceuticals

In related news, Director Angie You acquired 26,597 shares of Oric Pharmaceuticals stock in a transaction on Friday, June 20th. The shares were bought at an average cost of $9.39 per share, with a total value of $249,745.83. Following the completion of the purchase, the director directly owned 26,597 shares of the company’s stock, valued at $249,745.83. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 32,466 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the sale, the chief financial officer directly owned 68,317 shares in the company, valued at $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,400 shares of company stock worth $390,263 over the last three months. 6.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ORIC. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Guggenheim started coverage on Oric Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. HC Wainwright lowered their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Finally, LADENBURG THALM/SH SH started coverage on Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a “buy” rating and a $15.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.29.

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.