Insider Selling: Oric Pharmaceuticals (NASDAQ:ORIC) CEO Sells $638,662.05 in Stock

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Jacob Chacko sold 53,001 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $12.05, for a total transaction of $638,662.05. Following the completion of the sale, the chief executive officer owned 568,880 shares of the company’s stock, valued at $6,855,004. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jacob Chacko also recently made the following trade(s):

• On Tuesday, September 30th, Jacob Chacko sold 34,538 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $12.01, for a total transaction of $414,801.38.
• On Monday, September 22nd, Jacob Chacko sold 125,000 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $10.80, for a total transaction of $1,350,000.00.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $11.56 on Friday. The stock has a market cap of $1.12 billion, a P/E ratio of -6.12 and a beta of 1.68. The stock’s 50 day simple moving average is $10.39 and its 200-day simple moving average is $8.52. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). As a group, research analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Oric Pharmaceuticals by 34.0% in the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company’s stock valued at $908,000 after purchasing an additional 28,570 shares during the last quarter. Vivo Capital LLC boosted its holdings in shares of Oric Pharmaceuticals by 62.8% in the 1st quarter. Vivo Capital LLC now owns 2,080,450 shares of the company’s stock valued at $11,609,000 after buying an additional 802,632 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of Oric Pharmaceuticals by 50.7% in the 1st quarter. Rafferty Asset Management LLC now owns 77,424 shares of the company’s stock valued at $432,000 after buying an additional 26,032 shares during the last quarter. Two Sigma Advisers LP raised its stake in Oric Pharmaceuticals by 14.3% during the 4th quarter. Two Sigma Advisers LP now owns 66,500 shares of the company’s stock worth $537,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Oric Pharmaceuticals by 54.1% in the first quarter. Victory Capital Management Inc. now owns 150,260 shares of the company’s stock valued at $838,000 after acquiring an additional 52,760 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ORIC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Saturday, September 27th. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. HC Wainwright decreased their price objective on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. decreased their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.29.

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.