Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.14, but opened at $8.51. Oric Pharmaceuticals shares last traded at $8.26, with a volume of 286,916 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on ORIC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright increased their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Piper Sandler started coverage on Oric Pharmaceuticals in a report on Wednesday. They set an “overweight” rating and a $22.00 price target on the stock. Evercore ISI initiated coverage on Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Citigroup lifted their price objective on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Price Performance

The stock’s 50 day simple moving average is $10.56 and its two-hundred day simple moving average is $10.88. The firm has a market cap of $814.67 million, a P/E ratio of -4.86 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. Equities research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jacob Chacko sold 33,374 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $302,368.44. Following the transaction, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at $5,270,301.66. The trade was a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the sale, the chief financial officer owned 68,148 shares in the company, valued at approximately $617,420.88. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 54,814 shares of company stock worth $496,615. Company insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co purchased a new position in shares of Oric Pharmaceuticals during the 3rd quarter valued at $65,000. Woodline Partners LP lifted its position in shares of Oric Pharmaceuticals by 0.9% in the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after acquiring an additional 2,166 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Oric Pharmaceuticals in the third quarter worth about $358,000. Polar Capital Holdings Plc purchased a new stake in shares of Oric Pharmaceuticals during the third quarter worth about $5,623,000. Finally, Prelude Capital Management LLC bought a new stake in Oric Pharmaceuticals during the 3rd quarter valued at approximately $396,000. 95.05% of the stock is currently owned by institutional investors.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.