Oric Pharmaceuticals (NASDAQ:ORIC) CEO Sells $1,350,000.00 in Stock

Key Points

• Oric Pharmaceuticals CEO Jacob Chacko sold 125,000 shares for $1,350,000, reducing his ownership by 16% to 656,419 shares.
• The company reported a loss of ($0.47) earnings per share for the last quarter, missing analysts' estimates.
• Institutional investors hold 95.05% of Oric Pharmaceuticals' stock, indicating strong institutional interest in the company.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) CEO Jacob Chacko sold 125,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $10.80, for a total value of $1,350,000.00. Following the transaction, the chief executive officer owned 656,419 shares in the company, valued at $7,089,325.20. The trade was a 16.00% 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 link.

Oric Pharmaceuticals Stock Performance

Oric Pharmaceuticals stock traded down $0.02 during mid-day trading on Wednesday, reaching $10.46. 1,000,114 shares of the company were exchanged, compared to its average volume of 1,123,946. The firm has a market cap of $1.02 billion, a P/E ratio of -5.53 and a beta of 1.63. Oric Pharmaceuticals, Inc. has a 12-month low of $3.90 and a 12-month high of $14.67. The business has a fifty day moving average of $10.40 and a 200 day moving average of $8.32.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data 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). Sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors have recently modified their holdings of ORIC. Squarepoint Ops LLC purchased a new stake in shares of Oric Pharmaceuticals during the second quarter worth about $1,084,000. Tower Research Capital LLC TRC raised its holdings in shares of Oric Pharmaceuticals by 1,293.0% during the second quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company's stock valued at $119,000 after acquiring an additional 10,913 shares during the last quarter. Eventide Asset Management LLC purchased a new position in shares of Oric Pharmaceuticals in the second quarter valued at approximately $9,657,000. BNP Paribas Financial Markets boosted its stake in shares of Oric Pharmaceuticals by 1,102.4% in the second quarter. BNP Paribas Financial Markets now owns 86,755 shares of the company's stock worth $881,000 after acquiring an additional 79,540 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Oric Pharmaceuticals during the second quarter worth approximately $352,000. Institutional investors and hedge funds own 95.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. HC Wainwright lowered their target price on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Zacks Research raised 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 report on Thursday, August 14th. Finally, LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a "buy" rating and a $15.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.