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 on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the sale, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC opened at $7.68 on Thursday. The firm has a market cap of $541.95 million, a price-to-earnings ratio of -4.27 and a beta of 1.13. The firm has a fifty day moving average price of $9.33 and a 200 day moving average price of $9.36. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of ORIC Pharmaceuticals during the 2nd quarter worth approximately $724,000. Bank of New York Mellon Corp increased its position in ORIC Pharmaceuticals by 62.0% in the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after purchasing an additional 71,394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after purchasing an additional 3,188 shares in the last quarter. Rhumbline Advisers lifted its position in ORIC Pharmaceuticals by 53.7% during the second quarter. Rhumbline Advisers now owns 92,702 shares of the company’s stock valued at $655,000 after purchasing an additional 32,402 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of ORIC Pharmaceuticals by 8.3% in the 2nd quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after buying an additional 7,310 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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