ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 6.3%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORICGet Free Report) dropped 6.3% during trading on Monday . The stock traded as low as $12.83 and last traded at $12.89. Approximately 76,605 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 557,930 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

ORIC has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Cantor Fitzgerald initiated coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating for the company. HC Wainwright lifted their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Wedbush lifted their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $19.80.

Read Our Latest Stock Report on ORIC

ORIC Pharmaceuticals Stock Up 2.1 %

The company has a market capitalization of $836.86 million, a P/E ratio of -6.21 and a beta of 1.04. The business has a fifty day moving average price of $12.79 and a 200 day moving average price of $9.42.

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49). As a group, equities analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Chacko sold 13,958 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction of $169,170.96. Following the sale, the chief executive officer now owns 794,586 shares in the company, valued at $9,630,382.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of ORIC Pharmaceuticals in the second quarter valued at approximately $25,000. Royal Bank of Canada grew its position in shares of ORIC Pharmaceuticals by 67,750.0% in the second quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock valued at $32,000 after purchasing an additional 4,065 shares during the last quarter. AJOVista LLC acquired a new position in shares of ORIC Pharmaceuticals in the fourth quarter valued at approximately $40,000. UBS Group AG grew its position in shares of ORIC Pharmaceuticals by 3,233.1% in the fourth quarter. UBS Group AG now owns 4,433 shares of the company’s stock valued at $26,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Group One Trading L.P. acquired a new position in shares of ORIC Pharmaceuticals in the first quarter valued at approximately $26,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

(Get Free Report)

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.

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