ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares were up 4.2% during trading on Wednesday . The stock traded as high as $9.95 and last traded at $9.85. Approximately 174,442 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 549,840 shares. The stock had previously closed at $9.45.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ORIC shares. Wedbush upped their target price on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Cantor Fitzgerald initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an "overweight" rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 27th. Finally, HC Wainwright increased their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals presently has an average rating of "Buy" and an average target price of $19.80.
Check Out Our Latest Stock Analysis on ORIC Pharmaceuticals
ORIC Pharmaceuticals Stock Up 3.3 %
The firm has a market cap of $657.59 million, a P/E ratio of -4.98 and a beta of 1.04. The business's 50 day moving average is $12.57 and its two-hundred day moving average is $9.63.
ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). Equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current year.
Insider Buying and Selling
In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 13,958 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total value of $169,170.96. Following the transaction, the chief executive officer now directly owns 794,586 shares in the company, valued at $9,630,382.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.34% of the stock is owned by corporate insiders.
Institutional Trading of ORIC Pharmaceuticals
A number of institutional investors have recently modified their holdings of ORIC. Alkeon Capital Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company's stock valued at $21,050,000 after purchasing an additional 500,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ORIC Pharmaceuticals by 44.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,588,869 shares of the company's stock valued at $15,663,000 after purchasing an additional 791,843 shares in the last quarter. BlackRock Inc. boosted its stake in shares of ORIC Pharmaceuticals by 273.0% in the 2nd quarter. BlackRock Inc. now owns 2,575,281 shares of the company's stock valued at $19,984,000 after purchasing an additional 1,884,767 shares in the last quarter. First Manhattan Co. purchased a new stake in shares of ORIC Pharmaceuticals in the 1st quarter valued at $10,442,000. Finally, Millennium Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 23.2% in the 4th quarter. Millennium Management LLC now owns 1,883,978 shares of the company's stock valued at $11,097,000 after purchasing an additional 355,370 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
ORIC Pharmaceuticals Company Profile
(
Get Free Report)
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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