Insider Selling: ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Insider Sells $73,278.00 in 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 value of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares of the company’s stock, valued at $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ORIC Pharmaceuticals Stock Up 0.1 %

Shares of ORIC opened at $7.69 on Friday. The company has a market cap of $542.66 million, a PE ratio of -4.27 and a beta of 1.13. The business has a fifty day moving average of $9.26 and a 200 day moving average of $9.34. ORIC Pharmaceuticals, Inc. has a 52-week low of $6.33 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ORIC shares. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research 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 started coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.29.

Institutional Trading of ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ORIC. Millennium Management LLC increased its stake in ORIC Pharmaceuticals by 297.4% in the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after purchasing an additional 585,447 shares during the period. First Turn Management LLC increased its stake in shares of ORIC Pharmaceuticals by 38.1% during the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after buying an additional 418,389 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ORIC Pharmaceuticals by 190.2% during the second quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock valued at $3,299,000 after buying an additional 305,860 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares during the period. Finally, Franklin Resources Inc. increased its stake 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 valued at $9,067,000 after buying an additional 196,804 shares during the period. Hedge funds and other institutional investors 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.