Jacob Chacko Sells 125,000 Shares of Oric Pharmaceuticals (NASDAQ:ORIC) Stock

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) CEO Jacob Chacko sold 125,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $10.80, for a total value of $1,350,000.00. Following the sale, the chief executive officer owned 656,419 shares in the company, valued at approximately $7,089,325.20. This trade represents a 16.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Oric Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:ORIC opened at $10.41 on Friday. The company has a market capitalization of $1.01 billion, a P/E ratio of -5.51 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a 52-week low of $3.90 and a 52-week high of $14.67. The stock’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $8.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). On average, sell-side analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MPM Bioimpact LLC acquired a new stake in Oric Pharmaceuticals during the first quarter worth about $7,809,000. JPMorgan Chase & Co. increased its position in Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after purchasing an additional 1,299,799 shares in the last quarter. Vivo Capital LLC raised its holdings in Oric Pharmaceuticals by 50.3% in the second quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock valued at $31,735,000 after buying an additional 1,046,154 shares during the period. Eventide Asset Management LLC acquired a new position in Oric Pharmaceuticals during the second quarter valued at approximately $9,657,000. Finally, Alkeon Capital Management LLC grew its stake in Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after buying an additional 500,000 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ORIC. LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a “buy” rating and a $15.00 price objective 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. JPMorgan Chase & Co. lowered their price objective on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. Finally, Guggenheim began coverage on Oric Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $18.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $17.29.

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.