Dominic Piscitelli Sells 8,851 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Dominic Piscitelli sold 8,851 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the transaction, the chief financial officer now owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $7.68 on Thursday. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The company has a market cap of $541.95 million, a price-to-earnings ratio of -4.27 and a beta of 1.13. The business’s 50 day moving average price is $9.29 and its 200-day moving average price is $9.35.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Sell-side analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

ORIC has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares in the last quarter. Quest Partners LLC raised its stake in shares of ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares in the last quarter. Creative Planning purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in ORIC Pharmaceuticals in the third quarter worth approximately $132,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after purchasing an additional 5,646 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.