Insider Selling: Oric Pharmaceuticals (NASDAQ:ORIC) CEO Sells 53,001 Shares of Stock

Key Points

• Oric Pharmaceuticals CEO Jacob Chacko sold 53,001 shares on October 1st at an average price of $12.05, resulting in a total transaction value of $638,662.05 and reducing his ownership by 8.52%.
• Shares of Oric Pharmaceuticals decreased by 3.3% on Thursday, trading at $11.32, with a market capitalization of $1.10 billion.
• Multiple analysts maintain positive views on Oric Pharmaceuticals, with target prices ranging from $15.00 to $20.00, indicating a consensus rating of "Moderate Buy".

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) CEO Jacob Chacko sold 53,001 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $12.05, for a total value of $638,662.05. Following the completion of the transaction, the chief executive officer owned 568,880 shares in the company, valued at approximately $6,855,004. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jacob Chacko also recently made the following trade(s):

• On Tuesday, September 30th, Jacob Chacko sold 34,538 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $12.01, for a total value of $414,801.38.
• On Monday, September 22nd, Jacob Chacko sold 125,000 shares of Oric Pharmaceuticals stock. The shares were sold at an average price of $10.80, for a total value of $1,350,000.00.

Oric Pharmaceuticals Trading Down 3.3%

Shares of NASDAQ ORIC traded down $0.39 during mid-day trading on Thursday, reaching $11.32. 1,297,755 shares of the company's stock were exchanged, compared to its average volume of 1,392,198. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.99 and a beta of 1.68. The business has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $8.49. Oric Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $14.67.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.01). Equities research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ORIC shares. Wedbush reissued an "outperform" rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. LADENBURG THALM/SH SH initiated coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Guggenheim initiated coverage on Oric Pharmaceuticals in a research note on Thursday, September 4th. They set a "buy" rating and a $18.00 target price for the company. Finally, HC Wainwright reduced their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.29.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ORIC. Bank of America Corp DE boosted its position in shares of Oric Pharmaceuticals by 34.0% during the 4th quarter. Bank of America Corp DE now owns 112,520 shares of the company's stock valued at $908,000 after purchasing an additional 28,570 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Oric Pharmaceuticals by 14.3% during the 4th quarter. Two Sigma Advisers LP now owns 66,500 shares of the company's stock valued at $537,000 after purchasing an additional 8,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Oric Pharmaceuticals by 54.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,579 shares of the company's stock valued at $287,000 after purchasing an additional 12,545 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Oric Pharmaceuticals by 6.9% during the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after purchasing an additional 12,042 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Oric Pharmaceuticals during the 1st quarter valued at about $56,000. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

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.

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