Insider Selling: ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Sells $204,184.80 in Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Jacob Chacko sold 24,660 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $7.69 on Friday. ORIC Pharmaceuticals, Inc. has a one year low of $6.33 and a one year high of $16.65. The company has a market cap of $542.66 million, a PE ratio of -4.27 and a beta of 1.13. The firm has a 50-day moving average of $9.26 and a 200-day moving average of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued 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, equities research analysts expect that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

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

Analyst Ratings Changes

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