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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s stock price gapped up prior to trading 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 stock was acquired at an average price of $9.39 per share, with a total value of $249,745.83. Following the transaction, the director now owns 26,597 shares in the company, valued at approximately $249,745.83. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

ORIC has been the subject of several research analyst reports. Guggenheim reaffirmed a "buy" rating on shares of Oric Pharmaceuticals in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Wedbush restated an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday. Oppenheimer reduced their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $19.17.

Oric Pharmaceuticals Stock Down 2.5%

The stock has a market capitalization of $871.80 million, a P/E ratio of -5.47 and a beta of 1.49. The company has a fifty day moving average price of $6.82 and a 200-day moving average price of $7.68.

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

Institutional Investors Weigh In On Oric Pharmaceuticals

Several large investors have recently bought and sold shares 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 purchased a new position in Oric Pharmaceuticals during the 1st quarter worth $56,000. BNP Paribas Financial Markets bought a new stake in Oric Pharmaceuticals during the 4th quarter valued at $71,000. Hsbc Holdings PLC purchased a new stake in shares of Oric Pharmaceuticals in the 1st quarter worth $102,000. Finally, PNC Financial Services Group Inc. lifted its stake in Oric Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after acquiring an additional 2,520 shares during the period. Institutional investors own 95.05% of the company's stock.

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.