Oric Pharmaceuticals (NASDAQ:ORIC) Issues Quarterly Earnings Results

Oric Pharmaceuticals (NASDAQ:ORIC) posted its earnings results on Thursday. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08, Zacks reports.

Oric Pharmaceuticals Trading Down 2.3%

Shares of ORIC traded down $0.29 during trading hours on Thursday, hitting $12.19. The company had a trading volume of 707,684 shares, compared to its average volume of 1,155,757. The company’s fifty day moving average price is $12.14 and its two-hundred day moving average price is $10.06. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The company has a market capitalization of $1.18 billion, a PE ratio of -6.45 and a beta of 1.66.

Wall Street Analyst Weigh In

ORIC has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Monday, October 27th. JPMorgan Chase & Co. reduced their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Guggenheim initiated coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $18.00 target price on the stock. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.83.

Insider Activity

In other news, CEO Jacob Chacko sold 37,461 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $12.32, for a total value of $461,519.52. Following the transaction, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $14.52, for a total transaction of $159,720.00. Following the completion of the sale, the chief financial officer directly owned 48,317 shares in the company, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 261,000 shares of company stock valued at $3,024,703. Corporate insiders own 6.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Oric Pharmaceuticals during the third quarter valued at approximately $60,000. Creative Planning purchased a new stake in shares of Oric Pharmaceuticals during the second quarter worth approximately $113,000. Tower Research Capital LLC TRC raised its stake in Oric Pharmaceuticals by 1,293.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company’s stock valued at $119,000 after purchasing an additional 10,913 shares during the last quarter. Jane Street Group LLC lifted its holdings in Oric Pharmaceuticals by 56.0% in the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock valued at $174,000 after purchasing an additional 11,198 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Oric Pharmaceuticals by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock worth $226,000 after purchasing an additional 3,131 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.