ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 5.8%

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORIC. HC Wainwright raised their price objective 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. Wedbush raised their price objective on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 1st. JPMorgan Chase & Co. cut their price target 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. Finally, Cantor Fitzgerald started coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $19.80.

ORIC Pharmaceuticals Trading Up 8.6 %

The company’s 50 day moving average is $12.07 and its 200 day moving average is $9.80. The stock has a market capitalization of $602.73 million, a price-to-earnings ratio of -4.51 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49). Analysts anticipate 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 ORIC Pharmaceuticals 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 in the company, valued at $9,630,382.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.34% of the stock is currently owned by company insiders.

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ORIC. Jump Financial LLC boosted its holdings in shares of ORIC Pharmaceuticals by 104.8% in the third quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock valued at $195,000 after acquiring an additional 16,449 shares in the last quarter. Monaco Asset Management SAM boosted its holdings in shares of ORIC Pharmaceuticals by 1.7% in the third quarter. Monaco Asset Management SAM now owns 384,793 shares of the company’s stock valued at $2,328,000 after acquiring an additional 6,571 shares in the last quarter. Vivo Capital LLC purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $4,707,000. Algert Global LLC purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $81,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $72,000. Hedge funds and other 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.