ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 3.5% - What's Next?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s share price traded down 3.5% during mid-day trading on Tuesday . The stock traded as low as $8.03 and last traded at $8.17. 260,679 shares were traded during trading, a decline of 65% from the average session volume of 742,903 shares. The stock had previously closed at $8.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ORIC shares. HC Wainwright reiterated a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, May 5th. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, May 29th. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, May 6th. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Finally, Oppenheimer reduced their price target on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $19.17.

ORIC Pharmaceuticals Price Performance

The stock has a market cap of $662.54 million, a price-to-earnings ratio of -5.12 and a beta of 1.49. The firm's 50-day moving average is $5.60 and its 200 day moving average is $7.70.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data 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. On average, sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of ORIC Pharmaceuticals by 4.6% in the 4th quarter. Rhumbline Advisers now owns 93,319 shares of the company's stock worth $753,000 after purchasing an additional 4,072 shares during the period. Charles Schwab Investment Management Inc. increased its position in ORIC Pharmaceuticals by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 417,955 shares of the company's stock worth $3,373,000 after purchasing an additional 7,726 shares in the last quarter. M&T Bank Corp raised its holdings in ORIC Pharmaceuticals by 16.6% in the fourth quarter. M&T Bank Corp now owns 99,234 shares of the company's stock valued at $801,000 after buying an additional 14,097 shares during the period. PNC Financial Services Group Inc. lifted its position in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after buying an additional 2,520 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in ORIC Pharmaceuticals by 2,597.8% during the fourth quarter. AlphaQuest LLC now owns 28,435 shares of the company's stock valued at $229,000 after buying an additional 27,381 shares in the last quarter. 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.