Pratik S. Multani Sells 8,850 Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ORIC Pharmaceuticals Price Performance

ORIC opened at $7.68 on Thursday. The stock has a market capitalization of $541.95 million, a price-to-earnings ratio of -4.27 and a beta of 1.13. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $9.35. ORIC Pharmaceuticals, Inc. has a 12 month low of $6.33 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data 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, research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC raised its stake in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares in the last quarter. Creative Planning purchased a new stake in ORIC Pharmaceuticals during the 3rd quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ORIC Pharmaceuticals during the 3rd quarter worth about $132,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after acquiring an additional 5,646 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.29.

About ORIC Pharmaceuticals

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.