Insider Selling: ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Insider Sells 8,850 Shares of Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ 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 50-day simple moving average of $9.26 and a two-hundred day simple moving average of $9.34. 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 results 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). On average, sell-side analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. Millennium Management LLC lifted its holdings in shares of ORIC Pharmaceuticals by 297.4% during 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 lifted its holdings 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 worth $10,718,000 after purchasing an additional 418,389 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 worth $3,299,000 after purchasing an additional 305,860 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $4,205,000 after purchasing an additional 247,863 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 worth $9,067,000 after purchasing an additional 196,804 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ORIC shares. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective 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 price objective on the stock. 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 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals 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.