ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 4%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s stock price dropped 4% during mid-day trading on Thursday . The stock traded as low as $9.37 and last traded at $9.37. Approximately 33,834 shares were traded during trading, a decline of 94% from the average daily volume of 547,487 shares. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

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

ORIC Pharmaceuticals Stock Down 2.6 %

The company has a 50-day simple moving average of $12.57 and a two-hundred day simple moving average of $9.63. The firm has a market cap of $640.78 million, a PE ratio of -4.85 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted 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). As a group, equities analysts predict that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jacob Chacko sold 13,958 shares of the company's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction of $169,170.96. Following the transaction, the chief executive officer now owns 794,586 shares of the company's stock, valued at approximately $9,630,382.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.34% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of ORIC Pharmaceuticals by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 126,030 shares of the company's stock valued at $1,159,000 after purchasing an additional 1,180 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ORIC Pharmaceuticals by 6.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company's stock valued at $203,000 after purchasing an additional 1,362 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of ORIC Pharmaceuticals by 19.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company's stock valued at $85,000 after purchasing an additional 1,517 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of ORIC Pharmaceuticals by 5.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 50,788 shares of the company's stock valued at $467,000 after purchasing an additional 2,632 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of ORIC Pharmaceuticals during the 2nd quarter valued at $25,000. 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.