Oric Pharmaceuticals (NASDAQ:ORIC) Trading Up 7% - Here's What Happened

Key Points

• Shares were up 7%, trading as high as $12.50 and last at $12.52 on Thursday on roughly 444,754 shares traded, about a 73% decline from its average daily volume (prior close $11.70).
• Analysts are broadly positive — 11 Buy, 2 Hold, 1 Sell — giving a consensus "Moderate Buy" and an average price target of $20.20 (recent targets include Piper Sandler $22 and Citi $17).
• CFO Dominic Piscitelli sold 52,000 shares at about $13.51 (reducing his stake ~43%), while the company reported Q EPS of -$0.30 vs. -$0.34 expected (a beat); market cap is $1.24B with a negative PE of -8.24.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares were up 7% during trading on Thursday . The stock traded as high as $12.50 and last traded at $12.52. Approximately 444,754 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 1,646,653 shares. The stock had previously closed at $11.70.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ORIC shares. Piper Sandler began coverage on Oric Pharmaceuticals in a research note on Wednesday, January 7th. They set an "overweight" rating and a $22.00 price objective on the stock. Citigroup lifted their target price on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Wedbush restated an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Monday, March 9th. Finally, Wall Street Zen upgraded shares of Oric Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.20.

Oric Pharmaceuticals Stock Performance

The stock has a fifty day moving average of $11.68 and a 200-day moving average of $11.29. The company has a market cap of $1.24 billion, a PE ratio of -8.24 and a beta of 1.28.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04. As a group, equities analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 52,000 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the completion of the sale, the chief financial officer directly owned 68,148 shares of the company's stock, valued at $920,679.48. The trade was a 43.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new position in Oric Pharmaceuticals during the 4th quarter worth $102,000. Invesco Ltd. increased its stake in shares of Oric Pharmaceuticals by 19.8% during the fourth quarter. Invesco Ltd. now owns 109,742 shares of the company's stock valued at $898,000 after buying an additional 18,128 shares during the period. XTX Topco Ltd bought a new stake in shares of Oric Pharmaceuticals in the fourth quarter valued at about $904,000. VARCOV Co. bought a new stake in shares of Oric Pharmaceuticals in the fourth quarter valued at about $262,000. Finally, Virtus Investment Advisers LLC lifted its stake in Oric Pharmaceuticals by 141.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,361 shares of the company's stock worth $232,000 after acquiring an additional 16,594 shares during the period. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company's pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.

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