ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 2.6%

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) traded down 2.6% during mid-day trading on Monday . The company traded as low as $10.67 and last traded at $10.69. 33,646 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 550,789 shares. The stock had previously closed at $10.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, March 27th. Cantor Fitzgerald assumed coverage on ORIC Pharmaceuticals in a report on Friday, February 23rd. They issued an "overweight" rating for the company. HC Wainwright increased their price target on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Wedbush increased their price target on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $19.80.

ORIC Pharmaceuticals Stock Performance

The firm has a market capitalization of $724.34 million, a P/E ratio of -5.48 and a beta of 1.04. The firm has a 50 day moving average price of $12.81 and a two-hundred day moving average price of $9.50.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). Equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 13,958 shares of the firm's stock in a transaction on Tuesday, February 6th. The stock was 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 of the company's stock, valued at $9,630,382.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.34% of the company's stock.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of ORIC Pharmaceuticals by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company's stock worth $1,159,000 after acquiring an additional 1,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ORIC Pharmaceuticals by 6.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company's stock worth $203,000 after purchasing an additional 1,362 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of ORIC Pharmaceuticals by 19.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company's stock worth $85,000 after purchasing an additional 1,517 shares during the period. Goldman Sachs Group Inc. grew its position in ORIC Pharmaceuticals by 5.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 50,788 shares of the company's stock worth $467,000 after buying an additional 2,632 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in ORIC Pharmaceuticals during the second quarter worth about $25,000. Institutional investors and hedge funds 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.