Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.2% – Should You Sell?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) fell 5.2% during trading on Monday . The company traded as low as $10.49 and last traded at $10.4980. Approximately 854,494 shares were traded during trading, a decline of 52% from the average session volume of 1,776,787 shares. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ORIC shares. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Benchmark reiterated a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Finally, Citigroup decreased their price objective on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.27.

Oric Pharmaceuticals Price Performance

The stock has a market cap of $1.10 billion, a PE ratio of -7.35 and a beta of 1.02. The business has a 50 day moving average price of $9.72 and a two-hundred day moving average price of $10.41.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Siren L.L.C. lifted its holdings in Oric Pharmaceuticals by 197.6% in the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after buying an additional 1,990,617 shares during the period. Defilade Capital Management L.P. bought a new position in shares of Oric Pharmaceuticals during the first quarter valued at approximately $10,680,000. UBS Group AG raised its holdings in shares of Oric Pharmaceuticals by 116.6% during the fourth quarter. UBS Group AG now owns 734,858 shares of the company’s stock valued at $6,011,000 after acquiring an additional 395,622 shares in the last quarter. Candriam S.C.A. purchased a new stake in Oric Pharmaceuticals in the first quarter worth $7,274,000. Finally, NEXTBio Capital Management LP bought a new stake in Oric Pharmaceuticals in the fourth quarter valued at $5,037,000. Hedge funds and other institutional investors 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.