Oric Pharmaceuticals (NASDAQ:ORIC) Shares Up 8.4% – Here’s What Happened

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price traded up 8.4% during trading on Monday . The company traded as high as $11.19 and last traded at $11.1250. 979,744 shares were traded during trading, a decline of 45% from the average session volume of 1,795,389 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a report on Tuesday, January 13th. Evercore ISI assumed coverage on Oric Pharmaceuticals in a research report on Thursday, November 20th. They set an “outperform” rating and a $25.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, January 22nd. Wolfe Research began coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Citigroup boosted their price target on Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Oric Pharmaceuticals Stock Up 10.8%

The firm has a market cap of $1.11 billion, a P/E ratio of -6.57 and a beta of 1.35. The business’s 50 day moving average is $10.05 and its two-hundred day moving average is $10.92.

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

Insider Transactions at Oric Pharmaceuticals

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in shares of Oric Pharmaceuticals by 17,300.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after acquiring an additional 2,422 shares in the last quarter. Assetmark Inc. bought a new stake in Oric Pharmaceuticals during the 3rd quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Oric Pharmaceuticals by 36.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after purchasing an additional 1,009 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals during the third quarter worth $60,000. Finally, ANTIPODES PARTNERS Ltd grew its holdings in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after buying an additional 1,372 shares in the last quarter. 95.05% of the stock is 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.