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 on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the sale, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. This represents a 15.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ORIC Pharmaceuticals Stock Up 0.1 %

ORIC stock opened at $8.25 on Wednesday. The business has a 50 day moving average price of $9.35 and a 200 day moving average price of $9.37. The stock has a market cap of $582.18 million, a price-to-earnings ratio of -4.58 and a beta of 1.13. ORIC Pharmaceuticals, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $16.65.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ORIC Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of ORIC Pharmaceuticals during the second quarter worth about $724,000. Bank of New York Mellon Corp grew its stake in ORIC Pharmaceuticals by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after buying an additional 71,394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 buying an additional 3,188 shares during the last quarter. Rhumbline Advisers increased its position in 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 buying an additional 32,402 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in ORIC Pharmaceuticals by 8.3% in the second quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock valued at $678,000 after buying an additional 7,310 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.