ORIC Pharmaceuticals (NASDAQ:ORIC) Trading 5.8% Higher

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) were up 5.8% on Tuesday . The stock traded as high as $8.74 and last traded at $8.71. Approximately 42,644 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 538,831 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

A number of research firms recently commented on ORIC. Wedbush lifted their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. reduced their price objective on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Cantor Fitzgerald initiated coverage on shares of ORIC Pharmaceuticals in a research report on Friday, February 23rd. They set an “overweight” rating for the company. Finally, HC Wainwright boosted their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $19.80.

ORIC Pharmaceuticals Trading Up 5.7 %

The firm’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $9.82.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). Sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 13,958 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total value of $169,170.96. Following the transaction, the chief executive officer now directly owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ORIC. Vivo Capital LLC bought a new position in ORIC Pharmaceuticals during the 3rd quarter valued at $4,707,000. Alkeon Capital Management LLC lifted its position in shares of ORIC Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock valued at $21,050,000 after purchasing an additional 500,000 shares in the last quarter. Euclidean Capital LLC boosted its holdings in ORIC Pharmaceuticals by 32.4% during the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after purchasing an additional 241,860 shares during the last quarter. Jump Financial LLC grew its position in ORIC Pharmaceuticals by 104.8% in the 3rd quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock worth $195,000 after purchasing an additional 16,449 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at about $81,000. 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.