ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.6% – Should You Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) was down 5.6% on Tuesday . The stock traded as low as $7.95 and last traded at $7.90. Approximately 306,326 shares changed hands during trading, a decline of 75% from the average daily volume of 1,210,882 shares. The stock had previously closed at $8.36.

Analyst Ratings Changes

Several equities research analysts have weighed in on ORIC shares. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective on the stock. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday, February 10th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $18.71.

ORIC Pharmaceuticals Price Performance

The company has a 50-day simple moving average of $9.35 and a 200-day simple moving average of $9.53. The firm has a market cap of $553.97 million, a PE ratio of -4.36 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. As a group, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current year.

Insider Activity at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of the sale, the insider now owns 46,765 shares in the company, valued at $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,286.28. Following the sale, the chief financial officer now owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,361 shares of company stock worth $350,749. Company insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock worth $4,205,000 after buying an additional 247,863 shares during the period. Barclays PLC lifted its holdings in ORIC Pharmaceuticals by 111.2% during the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock worth $1,100,000 after buying an additional 56,474 shares during the period. Franklin Resources Inc. lifted its holdings in ORIC Pharmaceuticals by 26.1% during the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after buying an additional 196,804 shares during the period. Creative Planning purchased a new stake in ORIC Pharmaceuticals during the third quarter worth $116,000. Finally, JPMorgan Chase & Co. lifted its holdings in ORIC Pharmaceuticals by 3.8% during 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 period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.