ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.6%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares were down 5.6% on Wednesday . The stock traded as low as $8.27 and last traded at $8.28. Approximately 159,410 shares changed hands during trading, a decline of 71% from the average daily volume of 544,651 shares. The stock had previously closed at $8.77.

Wall Street Analyst Weigh In

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

ORIC Pharmaceuticals Trading Down 7.9 %

The company has a market cap of $544.43 million, a price-to-earnings ratio of -4.16 and a beta of 1.04. The company's 50 day moving average price is $12.33 and its 200 day moving average price is $9.74.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). Sell-side analysts predict that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ORIC. Victory Capital Management Inc. grew 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 buying an additional 1,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ORIC Pharmaceuticals by 6.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company's stock worth $203,000 after buying an additional 1,362 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of ORIC Pharmaceuticals by 19.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company's stock worth $85,000 after buying an additional 1,517 shares in the last quarter. AJOVista LLC purchased a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth about $40,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth about $58,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

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