Oric Pharmaceuticals (NASDAQ:ORIC) CFO Dominic Piscitelli Sells 14,000 Shares of Company Stock

Key Points

• CFO Dominic Piscitelli sold 14,000 Oric Pharmaceuticals shares at an average price of $13.53, generating $189,420. The Rule 10b5-1 transaction reduced his holdings by 16.7% to 69,828 shares.
• Oric shares rose 0.5% to $13.85, near their one-year high of $14.68. The company reported a quarterly loss of $0.38 per share, missing estimates by $0.02.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $21.17; 95.05% of the stock is owned by institutional investors and hedge funds.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) CFO Dominic Piscitelli sold 14,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $13.53, for a total transaction of $189,420.00. Following the transaction, the chief financial officer owned 69,828 shares of the company's stock, valued at $944,772.84. This represents a 16.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 28th, Dominic Piscitelli sold 13,400 shares of Oric Pharmaceuticals stock. The stock was sold at an average price of $13.53, for a total transaction of $181,302.00.
• On Thursday, September 24th, Dominic Piscitelli sold 600 shares of Oric Pharmaceuticals stock. The stock was sold at an average price of $13.50, for a total transaction 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 transaction of $1,054,130.00.

Oric Pharmaceuticals Trading Up 0.5%

Shares of ORIC stock traded up $0.07 during trading on Wednesday, reaching $13.85. 1,568,523 shares of the company's stock traded hands, compared to its average volume of 1,688,164. The company has a market capitalization of $1.44 billion, a P/E ratio of -10.26 and a beta of 0.99. The firm's 50-day moving average is $12.94 and its 200 day moving average is $10.94. Oric Pharmaceuticals, Inc. has a 1 year low of $7.23 and a 1 year high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in Oric Pharmaceuticals by 9.3% during the first quarter. Quantinno Capital Management LP now owns 25,526 shares of the company's stock valued at $323,000 after buying an additional 2,170 shares during the period. Bank of New York Mellon Corp increased its stake in Oric Pharmaceuticals by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 190,470 shares of the company's stock worth $2,413,000 after acquiring an additional 2,549 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Oric Pharmaceuticals in the 2nd quarter worth about $38,000. Quantbot Technologies LP bought a new position in Oric Pharmaceuticals in the 2nd quarter worth about $46,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Oric Pharmaceuticals by 17.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,470 shares of the company's stock worth $687,000 after acquiring an additional 9,231 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ORIC has been the topic of a number of analyst reports. Wall Street Zen upgraded Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. raised their target price on Oric Pharmaceuticals from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 14th. BTIG Research initiated coverage on Oric Pharmaceuticals in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $26.00 target price for the company. HC Wainwright lifted their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Leerink Partners initiated coverage on Oric Pharmaceuticals in a report on Monday, October 5th. They set an "outperform" rating and a $26.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Oric Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $21.17.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc NASDAQ: ORIC is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric's pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.

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