Oric Pharmaceuticals (NASDAQ:ORIC) CEO Jacob Chacko Sells 37,461 Shares

Key Points

• CEO Jacob Chacko sold a total of 37,461 shares of Oric Pharmaceuticals, reducing his ownership by 6.59% and leaving him with approximately 531,419 shares valued at $6.54 million.
• Oric Pharmaceuticals recently reported a quarterly loss of ($0.47) earnings per share, missing analysts' expectations by $0.01, prompting forecasts of -$2.17 EPS for the current year.
• The stock currently has a market cap of $1.39 billion and analysts are generally optimistic with a moderate buy rating and an average price target of $17.29.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) CEO Jacob Chacko sold 37,461 shares of Oric Pharmaceuticals stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $12.32, for a total value of $461,519.52. Following the transaction, the chief executive officer directly owned 531,419 shares in the company, valued at approximately $6,547,082.08. The trade was a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 1st, Jacob Chacko sold 53,001 shares of Oric Pharmaceuticals stock. The stock was sold at an average price of $12.05, for a total value of $638,662.05.
• On Tuesday, September 30th, Jacob Chacko sold 34,538 shares of Oric Pharmaceuticals stock. The stock was 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 stock was sold at an average price of $10.80, for a total value of $1,350,000.00.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC traded up $0.16 during midday trading on Wednesday, reaching $14.28. The company had a trading volume of 1,978,267 shares, compared to its average volume of 1,150,009. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.93. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -7.56 and a beta of 1.68. The company has a fifty day simple moving average of $10.52 and a two-hundred day simple moving average of $8.62.

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

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vivo Capital LLC raised its stake in shares of Oric Pharmaceuticals by 62.8% during the 1st quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock worth $11,609,000 after purchasing an additional 802,632 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of Oric Pharmaceuticals by 50.7% in the 1st quarter. Rafferty Asset Management LLC now owns 77,424 shares of the company's stock valued at $432,000 after acquiring an additional 26,032 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Oric Pharmaceuticals by 54.1% in the 1st quarter. Victory Capital Management Inc. now owns 150,260 shares of the company's stock valued at $838,000 after acquiring an additional 52,760 shares in the last quarter. Nuveen LLC bought a new position in shares of Oric Pharmaceuticals in the 1st quarter valued at approximately $935,000. Finally, Swiss National Bank raised its stake in shares of Oric Pharmaceuticals by 9.6% in the 1st quarter. Swiss National Bank now owns 68,400 shares of the company's stock valued at $382,000 after acquiring an additional 6,000 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORIC has been the subject of a number of recent analyst reports. HC Wainwright decreased their price target on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price objective on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. LADENBURG THALM/SH SH started coverage on Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.29.

About Oric Pharmaceuticals

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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