Oric Pharmaceuticals (NASDAQ:ORIC) Shares Down 4.9% - Here's What Happened

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) dropped 4.9% during mid-day trading on Friday . The company traded as low as $11.06 and last traded at $10.89. Approximately 50,007 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 787,522 shares. The stock had previously closed at $11.45.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORIC. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research note on Tuesday. They issued a "buy" rating and a $15.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. Oppenheimer decreased their price target on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.57.

Oric Pharmaceuticals Stock Down 3.1%

The company's 50 day moving average price is $8.23 and its two-hundred day moving average price is $7.88. The firm has a market cap of $945.94 million, a PE ratio of -5.94 and a beta of 1.54.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. On average, analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, Director Angie You bought 26,597 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $9.39 per share, for a total transaction of $249,745.83. Following the completion of the transaction, the director owned 26,597 shares in the company, valued at $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 32,466 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total transaction of $340,893.00. Following the sale, the chief financial officer owned 68,317 shares of the company's stock, valued at $717,328.50. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $416,289 in the last ninety days. 6.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently made changes to their positions in ORIC. Bank of America Corp DE lifted its stake in Oric Pharmaceuticals by 34.0% in the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company's stock worth $908,000 after acquiring an additional 28,570 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Oric Pharmaceuticals by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock worth $5,788,000 after purchasing an additional 103,237 shares during the period. Wellington Management Group LLP boosted its position in Oric Pharmaceuticals by 6.9% during the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after acquiring an additional 12,042 shares in the last quarter. Sphera Funds Management LTD. increased its holdings in shares of Oric Pharmaceuticals by 112.8% in the 4th quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company's stock valued at $2,205,000 after acquiring an additional 144,817 shares during the period. Finally, Diadema Partners LP bought a new position in shares of Oric Pharmaceuticals in the 4th quarter worth $1,729,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.