ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) rose 10.9% during mid-day trading on Tuesday . The stock traded as high as $9.75 and last traded at $9.54. Approximately 88,026 shares were traded during trading, a decline of 87% from the average daily volume of 669,386 shares. The stock had previously closed at $8.60.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ORIC. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $18.29.
Check Out Our Latest Report on ORIC Pharmaceuticals
ORIC Pharmaceuticals Stock Performance
The business has a fifty day moving average of $9.00 and a 200-day moving average of $9.43. The firm has a market capitalization of $699.32 million, a P/E ratio of -5.51 and a beta of 1.18.
ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.01). On average, equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dominic Piscitelli sold 8,851 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the sale, the chief financial officer now directly owns 106,764 shares of the company's stock, valued at approximately $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock valued at $350,749 over the last quarter. Corporate insiders own 5.55% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company's stock worth $4,205,000 after acquiring an additional 247,863 shares during the period. Franklin Resources Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 26.1% during the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after purchasing an additional 196,804 shares during the period. Bank of New York Mellon Corp grew its position in ORIC Pharmaceuticals by 62.0% during the second 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 in the last quarter. Creative Planning acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at approximately $116,000. Finally, Barclays PLC lifted its position in ORIC Pharmaceuticals by 111.2% in the 3rd quarter. Barclays PLC now owns 107,261 shares of the company's stock worth $1,100,000 after buying an additional 56,474 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.
About ORIC Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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