Insider Selling: ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Sells 2,600 Shares of Stock

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Dominic Piscitelli sold 2,600 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.01, for a total transaction of $26,026.00. Following the transaction, the chief financial officer now owns 104,164 shares in the company, valued at $1,042,681.64. The trade was a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Dominic Piscitelli also recently made the following trade(s):

• On Monday, June 9th, Dominic Piscitelli sold 300 shares of ORIC Pharmaceuticals stock. The shares were sold at an average price of $10.00, for a total transaction of $3,000.00.

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $9.86 on Tuesday. The firm has a 50-day moving average of $5.76 and a 200-day moving average of $7.69. The company has a market cap of $700.93 million, a P/E ratio of -5.42 and a beta of 1.49. ORIC Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, research analysts expect that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of ORIC Pharmaceuticals by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company’s stock valued at $5,788,000 after purchasing an additional 103,237 shares during the last quarter. Wellington Management Group LLP increased its holdings in ORIC Pharmaceuticals by 6.9% during the fourth quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock worth $1,504,000 after buying an additional 12,042 shares during the last quarter. Sphera Funds Management LTD. increased its holdings in ORIC Pharmaceuticals by 112.8% during the fourth quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock worth $2,205,000 after buying an additional 144,817 shares during the last quarter. Bank of America Corp DE increased its holdings in ORIC Pharmaceuticals by 34.0% during the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company’s stock worth $908,000 after buying an additional 28,570 shares during the last quarter. Finally, Diadema Partners LP purchased a new stake in ORIC Pharmaceuticals during the fourth quarter worth about $1,729,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ORIC shares. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Oppenheimer lowered their price objective on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, May 6th. Finally, Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, May 29th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.17.

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.