ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 3.5%

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) were down 3.5% during mid-day trading on Monday . The company traded as low as $9.30 and last traded at $9.37. Approximately 37,687 shares changed hands during trading, a decline of 93% from the average daily volume of 541,126 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

ORIC has been the subject of several research analyst reports. HC Wainwright upped their price target on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced 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 report on Wednesday, March 27th. Wedbush increased their price objective on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald started coverage on shares of ORIC Pharmaceuticals in a research report on Friday, February 23rd. They set an “overweight” rating for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average price target of $19.80.

ORIC Pharmaceuticals Stock Down 3.5 %

The firm has a market capitalization of $631.73 million, a PE ratio of -4.68 and a beta of 1.19. The firm’s 50 day moving average price is $11.98 and its two-hundred day moving average price is $9.91.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). On average, sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at ORIC Pharmaceuticals

In related 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 completion of the sale, the chief executive officer now owns 794,586 shares in the company, valued at $9,630,382.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ORIC. Victory Capital Management Inc. raised its stake in ORIC Pharmaceuticals by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after buying an additional 1,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 6.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock valued at $203,000 after acquiring an additional 1,362 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of ORIC Pharmaceuticals by 19.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after acquiring an additional 1,517 shares in the last quarter. AJOVista LLC bought a new position in ORIC Pharmaceuticals during the fourth quarter worth $40,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in ORIC Pharmaceuticals in the fourth quarter worth $58,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.