Traders Buy Large Volume of ORIC Pharmaceuticals Call Options (NASDAQ:ORIC)

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) was the recipient of unusually large options trading on Thursday. Stock investors bought 8,284 call options on the stock. This is an increase of 3,533% compared to the typical volume of 228 call options.

ORIC Pharmaceuticals Trading Up 33.5%

Shares of ORIC opened at $7.97 on Friday. The stock has a 50 day moving average of $5.35 and a 200 day moving average of $7.72. ORIC Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.67. The company has a market capitalization of $566.57 million, a price-to-earnings ratio of -4.38 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. As a group, equities research analysts predict that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ORIC. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, May 6th. Oppenheimer decreased their price target on ORIC Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus price target of $19.17.

Institutional Trading of ORIC Pharmaceuticals

A number of large investors have recently bought and sold shares of ORIC. JPMorgan Chase & Co. increased its position in ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after buying an additional 1,279 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after buying an additional 1,395 shares during the last quarter. Rhumbline Advisers increased its position in ORIC Pharmaceuticals by 4.6% in the fourth quarter. Rhumbline Advisers now owns 93,319 shares of the company’s stock worth $753,000 after buying an additional 4,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ORIC Pharmaceuticals by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 417,955 shares of the company’s stock worth $3,373,000 after buying an additional 7,726 shares during the last quarter. Finally, M&T Bank Corp increased its position in ORIC Pharmaceuticals by 16.6% in the fourth quarter. M&T Bank Corp now owns 99,234 shares of the company’s stock worth $801,000 after buying an additional 14,097 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.