ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Down 5.2% – Time to Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price fell 5.2% on Monday . The company traded as low as $8.73 and last traded at $8.92. 92,096 shares were traded during trading, a decline of 82% from the average session volume of 517,284 shares. The stock had previously closed at $9.41.

Analyst Upgrades and Downgrades

ORIC has been the subject of several recent research reports. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday. Oppenheimer cut their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Trading Up 0.3 %

The business has a 50 day moving average of $9.71 and a 200-day moving average of $9.26. The stock has a market cap of $684.94 million, a PE ratio of -5.53 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares during the period. Quest Partners LLC raised its stake in ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the period. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $116,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after purchasing an additional 5,646 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of ORIC Pharmaceuticals during the 2nd quarter valued at $153,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.