Oric Pharmaceuticals (NASDAQ:ORIC) Sees Large Volume Increase – Still a Buy?

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) saw strong trading volume on Wednesday . 2,188,907 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 1,555,251 shares.The stock last traded at $11.3530 and had previously closed at $10.14.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several research reports. Citigroup boosted their price target on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Oppenheimer boosted their target price on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Wolfe Research started coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. HC Wainwright lifted their price target on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $10.18 and its 200-day simple moving average is $10.84. The stock has a market cap of $1.11 billion, a P/E ratio of -6.61 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.08. Analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dominic Piscitelli sold 10,720 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the transaction, the chief financial officer directly owned 68,148 shares of the company’s stock, valued at approximately $617,420.88. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the transaction, the insider directly owned 68,149 shares in the company, valued at $617,429.94. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,814 shares of company stock worth $496,615. Company insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Several large investors have recently modified their holdings of ORIC. Nisa Investment Advisors LLC increased its stake in shares of Oric Pharmaceuticals by 17,300.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after acquiring an additional 2,422 shares in the last quarter. Assetmark Inc. acquired a new stake in Oric Pharmaceuticals in the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Oric Pharmaceuticals by 36.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after purchasing an additional 1,009 shares during the period. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals in the third quarter valued at $60,000. Finally, ANTIPODES PARTNERS Ltd raised its holdings in shares of Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after purchasing an additional 1,372 shares during the period. Institutional investors and hedge funds 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.