Insider Selling: Oric Pharmaceuticals (NASDAQ:ORIC) Insider Sells $97,123.20 in Stock

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) insider Pratik Multani sold 10,720 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the sale, the insider directly owned 68,149 shares in the company, valued at $617,429.94. The trade was a 13.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Oric Pharmaceuticals Stock Performance

ORIC stock opened at $8.04 on Friday. Oric Pharmaceuticals, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $14.93. The company has a market capitalization of $783.02 million, a price-to-earnings ratio of -4.65 and a beta of 1.32. The business’s 50 day moving average price is $11.71 and its two-hundred day moving average price is $10.95.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.08. Sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Vivo Capital LLC raised its holdings in Oric Pharmaceuticals by 50.3% during the second quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock valued at $31,735,000 after acquiring an additional 1,046,154 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Oric Pharmaceuticals by 3,646.1% in the second quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after acquiring an additional 1,299,799 shares during the period. Rafferty Asset Management LLC grew its position in shares of Oric Pharmaceuticals by 50.7% during the first quarter. Rafferty Asset Management LLC now owns 77,424 shares of the company’s stock worth $432,000 after purchasing an additional 26,032 shares in the last quarter. Alkeon Capital Management LLC grew its position in shares of Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Oric Pharmaceuticals during the 1st quarter valued at approximately $935,000. Institutional investors own 95.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Guggenheim assumed coverage on shares of Oric Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective for the company. Wolfe Research started coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. HC Wainwright boosted their price objective on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Citigroup increased their target price on Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, December 8th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.