Insider Selling: Oric Pharmaceuticals (NASDAQ:ORIC) CFO Sells $1,054,130.00 in Stock

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Dominic Piscitelli sold 77,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the completion of the transaction, the chief financial officer owned 69,828 shares in the company, valued at approximately $955,945.32. This represents a 52.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC traded down $0.51 on Friday, hitting $13.23. 765,429 shares of the stock were exchanged, compared to its average volume of 1,737,481. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.80 and a beta of 1.02. The company’s 50-day moving average price is $11.76 and its 200 day moving average price is $10.71.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, equities research analysts predict that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current year.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Oric Pharmaceuticals by 1,513.5% in the 2nd quarter. California State Teachers Retirement System now owns 780,410 shares of the company’s stock valued at $8,452,000 after buying an additional 732,041 shares during the period. AXQ Capital LP acquired a new stake in Oric Pharmaceuticals during the 2nd quarter worth $396,000. Braidwell LP lifted its holdings in Oric Pharmaceuticals by 7.7% during the second quarter. Braidwell LP now owns 1,214,540 shares of the company’s stock worth $13,153,000 after acquiring an additional 86,500 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Oric Pharmaceuticals by 17.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,470 shares of the company’s stock worth $687,000 after acquiring an additional 9,231 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Oric Pharmaceuticals by 14.7% in the second quarter. Wellington Management Group LLP now owns 213,373 shares of the company’s stock valued at $2,311,000 after acquiring an additional 27,274 shares during the period. 95.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ORIC has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They issued a “buy” rating and a $14.00 price objective for the company. Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup reduced their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, HC Wainwright boosted their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.45.

About Oric Pharmaceuticals

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.