Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up Following Insider Buying Activity

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $10.00, but opened at $10.63. Oric Pharmaceuticals shares last traded at $10.87, with a volume of 484,723 shares trading hands.

Specifically, Director Angie You bought 26,597 shares of the business's stock in a transaction on Friday, June 20th. The shares were bought at an average price of $9.39 per share, with a total value of $249,745.83. Following the completion of the transaction, the director now directly owns 26,597 shares in the company, valued at $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Oppenheimer dropped their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, May 5th. Finally, Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $19.17.

Oric Pharmaceuticals Trading Down 1.5%

The company has a market cap of $881.43 million, a PE ratio of -5.53 and a beta of 1.49. The company has a fifty day simple moving average of $7.05 and a two-hundred day simple moving average of $7.70.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. On average, research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors have recently modified their holdings of ORIC. KLP Kapitalforvaltning AS purchased a new position in shares of Oric Pharmaceuticals during the fourth quarter worth approximately $50,000. Arizona State Retirement System acquired a new stake in Oric Pharmaceuticals during the 1st quarter worth $56,000. BNP Paribas Financial Markets purchased a new position in Oric Pharmaceuticals during the 4th quarter worth $71,000. Hsbc Holdings PLC acquired a new position in Oric Pharmaceuticals in the first quarter valued at $102,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Oric Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after buying an additional 2,520 shares during the last quarter. Hedge funds and other 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.