ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Gap Down - Should You Sell?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.97, but opened at $7.62. ORIC Pharmaceuticals shares last traded at $7.90, with a volume of 217,995 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, May 5th. Oppenheimer cut 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 note on Tuesday, May 6th. Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $19.17.

ORIC Pharmaceuticals Stock Performance

The firm's 50-day moving average is $5.38 and its two-hundred day moving average is $7.69. The stock has a market cap of $587.19 million, a P/E ratio of -4.54 and a beta of 1.37.

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 (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, research analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of ORIC Pharmaceuticals by 16.8% during the fourth 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 increased its stake in shares of ORIC Pharmaceuticals by 6.9% in 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 during the last quarter. Sphera Funds Management LTD. raised its position 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. Diadema Partners LP acquired a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at approximately $1,729,000. Finally, NEOS Investment Management LLC bought a new position in ORIC Pharmaceuticals during the 4th quarter worth approximately $367,000. 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.