Pratik S. Multani Sells 8,850 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ORIC Pharmaceuticals Trading Up 0.1 %

Shares of ORIC traded up $0.01 during midday trading on Tuesday, reaching $8.25. The stock had a trading volume of 321,133 shares, compared to its average volume of 500,967. The company’s 50-day moving average is $9.35 and its 200 day moving average is $9.37. ORIC Pharmaceuticals, Inc. has a 12-month low of $6.33 and a 12-month high of $16.65. The company has a market capitalization of $582.20 million, a price-to-earnings ratio of -4.62 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. Millennium Management LLC lifted its stake in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after acquiring an additional 585,447 shares during the last quarter. First Turn Management LLC lifted its stake in shares of ORIC Pharmaceuticals by 38.1% in the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after acquiring an additional 418,389 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ORIC Pharmaceuticals by 190.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock valued at $3,299,000 after acquiring an additional 305,860 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after acquiring an additional 247,863 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock valued at $9,067,000 after acquiring an additional 196,804 shares during the last quarter. Institutional investors own 95.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ORIC shares. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 target price for the company. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.29.

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.