Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 6.2% – Here’s What Happened

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price rose 6.2% on Monday . The company traded as high as $9.78 and last traded at $9.88. Approximately 132,949 shares traded hands during trading, a decline of 83% from the average daily volume of 782,376 shares. The stock had previously closed at $9.31.

Analyst Ratings Changes

Several analysts recently issued reports on ORIC shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Oric Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.17.

Oric Pharmaceuticals Stock Up 5.3%

The company has a market capitalization of $835.58 million, a PE ratio of -5.24 and a beta of 1.49. The company has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $7.66.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. As a group, equities analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 2,976 shares of Oric Pharmaceuticals stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $10.01, for a total transaction of $29,789.76. Following the transaction, the chief financial officer now directly owns 102,117 shares of the company’s stock, valued at approximately $1,022,191.17. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 6,500 shares of company stock valued at $65,056 in the last 90 days. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in Oric Pharmaceuticals by 56.0% in the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock worth $174,000 after purchasing an additional 11,198 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Oric Pharmaceuticals by 1,331.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock valued at $2,841,000 after buying an additional 473,600 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Oric Pharmaceuticals by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock valued at $1,645,000 after buying an additional 24,778 shares during the period. Parkman Healthcare Partners LLC bought a new stake in Oric Pharmaceuticals in the 1st quarter worth $1,133,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Oric Pharmaceuticals by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock valued at $226,000 after acquiring an additional 3,131 shares during the period. 95.05% of the stock is owned by institutional investors.

Oric Pharmaceuticals Company Profile

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.