Oric Pharmaceuticals (NASDAQ:ORIC) Trading 6.2% Higher – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares were up 6.2% during mid-day trading on Monday . The stock traded as high as $9.78 and last traded at $9.88. Approximately 132,949 shares changed 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 weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised 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. Guggenheim reiterated a “buy” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Oppenheimer cut their price objective on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $19.17.

Oric Pharmaceuticals Trading Up 5.3%

The firm’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $7.66. The firm has a market cap of $835.58 million, a PE ratio of -5.24 and a beta of 1.49.

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

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 2,976 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $10.01, for a total transaction of $29,789.76. Following the sale, the chief financial officer now owns 102,117 shares in the company, valued at approximately $1,022,191.17. This represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 6,500 shares of company stock worth $65,056 over the last 90 days. 5.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 28,570 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Oric Pharmaceuticals by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company’s stock valued at $5,788,000 after buying an additional 103,237 shares in the last quarter. Wellington Management Group LLP boosted its position in Oric Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock valued at $1,504,000 after buying an additional 12,042 shares during the period. Sphera Funds Management LTD. grew its stake in Oric Pharmaceuticals by 112.8% in the 4th quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock worth $2,205,000 after acquiring an additional 144,817 shares in the last quarter. Finally, Diadema Partners LP purchased a new position in shares of Oric Pharmaceuticals during the fourth quarter worth approximately $1,729,000. 95.05% of the stock is owned by institutional investors.

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.