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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ORIC shares. Wedbush restated an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. HC Wainwright restated a "buy" rating and issued a $21.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Oppenheimer dropped their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Finally, LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $18.57.

Oric Pharmaceuticals Trading Down 2.3%

The stock has a market cap of $924.64 million, a P/E ratio of -5.80 and a beta of 1.54. The business's fifty day simple moving average is $8.23 and its 200 day simple moving average is $7.87.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.09. On average, analysts predict 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 news, Director Angie You acquired 26,597 shares of the company's stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $9.39 per share, with a total value of $249,745.83. Following the acquisition, the director owned 26,597 shares of the company's stock, valued at $249,745.83. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dominic Piscitelli sold 32,466 shares of the company's 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 transaction, the chief financial officer owned 68,317 shares in the company, valued at approximately $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $416,289 over the last three months. Insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in Oric Pharmaceuticals in the fourth quarter valued at approximately $50,000. BNP Paribas Financial Markets acquired a new position in shares of Oric Pharmaceuticals in the 4th quarter valued at $71,000. Arizona State Retirement System bought a new position in shares of Oric Pharmaceuticals in the 1st quarter worth $56,000. PNC Financial Services Group Inc. grew its stake in shares of Oric Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after purchasing an additional 2,520 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Oric Pharmaceuticals in the fourth quarter valued at about $118,000. 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.