ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Sells $73,286.28 in Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,286.28. Following the transaction, the chief financial officer now owns 106,764 shares of the company’s stock, valued at $884,005.92. This represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ORIC Pharmaceuticals Price Performance

Shares of ORIC Pharmaceuticals stock opened at $7.69 on Friday. ORIC Pharmaceuticals, Inc. has a 1 year low of $6.33 and a 1 year high of $16.65. The firm has a market cap of $542.66 million, a PE ratio of -4.27 and a beta of 1.13. The company has a 50 day simple moving average of $9.26 and a two-hundred day simple moving average of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORIC. Hennion & Walsh Asset Management Inc. purchased a new position in shares of ORIC Pharmaceuticals during the second quarter worth approximately $724,000. Bank of New York Mellon Corp raised its stake in shares of 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 worth $1,318,000 after acquiring an additional 71,394 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ORIC Pharmaceuticals by 162.3% during the second 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. Rhumbline Advisers raised its stake in shares of ORIC Pharmaceuticals by 53.7% during the second quarter. Rhumbline Advisers now owns 92,702 shares of the company’s stock worth $655,000 after acquiring an additional 32,402 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of ORIC Pharmaceuticals by 8.3% during the second quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after acquiring an additional 7,310 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.