Insider Selling: Oric Pharmaceuticals (NASDAQ:ORIC) CFO Sells $181,302.00 in Stock

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) CFO Dominic Piscitelli sold 13,400 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $13.53, for a total transaction of $181,302.00. Following the completion of the transaction, the chief financial officer owned 69,828 shares of the company’s stock, valued at $944,772.84. This trade represents a 16.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 24th, Dominic Piscitelli sold 600 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $13.50, for a total value of $8,100.00.
• On Wednesday, August 26th, Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00.

Oric Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $12.52 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of -9.27 and a beta of 0.98. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93. The stock has a fifty day moving average of $12.97 and a 200-day moving average of $10.87.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Equities research analysts forecast that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ORIC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright boosted their price target on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Stifel Nicolaus initiated coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a “buy” rating and a $14.00 price objective on the stock. Thirteen 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.18.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several institutional investors have recently modified their holdings of ORIC. WINTON GROUP Ltd bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at about $899,000. Engineers Gate Manager LP acquired a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at approximately $694,000. Integrated Wealth Concepts LLC bought a new position in Oric Pharmaceuticals during the 2nd quarter worth approximately $38,000. Squarepoint Ops LLC bought a new position in Oric Pharmaceuticals during the 2nd quarter worth approximately $3,729,000. Finally, AXQ Capital LP acquired a new position in Oric Pharmaceuticals during the second quarter valued at approximately $396,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric’s research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).