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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) saw unusually-strong trading volume on Wednesday . Approximately 2,188,907 shares changed hands during 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.

Analyst Ratings Changes

ORIC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. HC Wainwright raised their price target on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 14th. Oppenheimer upped their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Price Performance

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.61 and a beta of 1.36. The business’s 50-day moving average price is $10.18 and its two-hundred day moving average price is $10.84.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.08. As a group, research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Transactions at Oric Pharmaceuticals

In related news, CEO Jacob Chacko sold 33,374 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $302,368.44. Following the completion of the sale, the chief executive officer directly owned 581,711 shares in the company, valued at $5,270,301.66. This represents a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pratik S. Multani sold 10,720 shares of the firm’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 sale, the insider directly owned 68,149 shares in the company, valued at $617,429.94. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 54,814 shares of company stock valued at $496,615. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ORIC. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after purchasing an additional 1,009 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Oric Pharmaceuticals by 2.9% in the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after purchasing an additional 1,358 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in Oric Pharmaceuticals by 35.9% in the 2nd 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 last quarter. ProShare Advisors LLC boosted its position in Oric Pharmaceuticals by 12.9% in the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after buying an additional 1,527 shares in the last quarter. Finally, Woodline Partners LP grew its stake in shares of Oric Pharmaceuticals by 0.9% during the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock worth $2,958,000 after buying an additional 2,166 shares during the last quarter. Institutional investors own 95.05% of the company’s stock.

About Oric Pharmaceuticals

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.