Insider Selling: ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Sells 24,660 Shares of Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Jacob Chacko sold 24,660 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $204,184.80. Following the completion of the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $7.69 on Friday. ORIC Pharmaceuticals, Inc. has a 1 year low of $6.33 and a 1 year high of $16.65. The stock’s fifty day moving average price is $9.26 and its two-hundred day moving average price is $9.34. The company has a market cap of $542.66 million, a P/E ratio of -4.27 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued 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). On average, analysts expect that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in ORIC Pharmaceuticals by 152.7% during the third 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in ORIC Pharmaceuticals by 62.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after purchasing an additional 71,394 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of ORIC Pharmaceuticals during the 2nd quarter valued at $724,000. Creative Planning bought a new position in shares of ORIC Pharmaceuticals in the third quarter worth $116,000. Finally, Monaco Asset Management SAM raised its position in shares of ORIC Pharmaceuticals by 132.0% in the second quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after buying an additional 171,650 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ORIC shares. Cantor Fitzgerald reaffirmed 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 report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Finally, Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $18.29.

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.