Oric Pharmaceuticals (NASDAQ:ORIC) CFO Sells $1,054,130.00 in Stock

Key Points

• CFO Dominic Piscitelli sold 77,000 Oric Pharmaceuticals shares for approximately $1.05 million at an average price of $13.69 under a pre-arranged Rule 10b5-1 trading plan. His remaining ownership fell 52.44% to 69,828 shares.
• Oric shares declined 3.7% to $13.23, while the company’s latest quarterly loss of $0.38 per share missed analyst expectations by $0.02. Analysts project a full-year loss of $1.53 per share.
• Despite the insider sale, analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $19.45 average price target; institutional investors own 95.05% of the company.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) CFO Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the sale, the chief financial officer owned 69,828 shares in the company, valued at approximately $955,945.32. This trade represents a 52.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Oric Pharmaceuticals Trading Down 3.7%

NASDAQ ORIC traded down $0.51 on Friday, reaching $13.23. The company's stock had a trading volume of 765,429 shares, compared to its average volume of 1,737,481. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93. The firm has a market cap of $1.37 billion, a PE ratio of -9.80 and a beta of 1.02. The business has a 50-day moving average price of $11.76 and a 200 day moving average price of $10.71.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.02). Analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ORIC. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Benchmark reaffirmed a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They set a "buy" rating and a $14.00 price target for the company. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Friday, May 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.45.

Institutional Trading of Oric Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Defilade Capital Management L.P. bought a new stake in Oric Pharmaceuticals during the 1st quarter worth about $10,680,000. Siren L.L.C. raised its stake in shares of Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock worth $37,987,000 after acquiring an additional 1,990,617 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Oric Pharmaceuticals by 19.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company's stock worth $18,637,000 after purchasing an additional 244,060 shares in the last quarter. Blue Owl Capital Holdings LP acquired a new position in shares of Oric Pharmaceuticals during the second quarter worth approximately $4,332,000. Finally, Bank of America Corp DE grew its stake in shares of Oric Pharmaceuticals by 105.5% during the first quarter. Bank of America Corp DE now owns 1,043,159 shares of the company's stock valued at $13,217,000 after purchasing an additional 535,649 shares during the last quarter. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company's pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.

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