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

Key Points

• Oric Pharmaceuticals CFO Dominic Piscitelli sold 13,400 shares for approximately $181,302 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 16.1% to 69,828 shares.
• Oric shares rose 0.8% to $13.37, while the clinical-stage biotech reported a quarterly loss of $0.38 per share, slightly wider than analysts’ expected $0.36 loss.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $20.18; institutional investors own approximately 95.05% of the company.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Trading Up 0.8%

Shares of NASDAQ:ORIC traded up $0.10 on Tuesday, reaching $13.37. The company had a trading volume of 977,261 shares, compared to its average volume of 1,402,947. The firm has a market capitalization of $1.39 billion, a PE ratio of -9.90 and a beta of 1.00. Oric Pharmaceuticals, Inc. has a 52-week low of $7.23 and a 52-week high of $14.93. The firm's 50 day simple moving average is $12.89 and its 200-day simple moving average is $10.85.

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

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. BlackRock Inc. purchased a new position in Oric Pharmaceuticals in the 2nd quarter worth $73,904,000. Siren L.L.C. grew its stake in Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock valued at $37,987,000 after purchasing an additional 1,990,617 shares during the last quarter. Algert Global LLC increased its holdings in shares of Oric Pharmaceuticals by 791.3% in the second quarter. Algert Global LLC now owns 1,215,293 shares of the company's stock valued at $13,162,000 after purchasing an additional 1,078,943 shares during the period. Bank of America Corp DE acquired a new position in shares of Oric Pharmaceuticals in the second quarter valued at about $11,675,000. Finally, Defilade Capital Management L.P. purchased a new position in shares of Oric Pharmaceuticals in the first quarter worth about $10,680,000. Institutional investors and hedge funds own 95.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Oric Pharmaceuticals in a report on Wednesday, September 23rd. They issued a "buy" rating and a $26.00 price target on the stock. HC Wainwright boosted their price objective 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. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a "buy" rating and a $14.00 target price for the company. Wall Street Zen raised shares of Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.18.

Oric Pharmaceuticals Company Profile

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).

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