Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.2% - Should You Sell?

Key Points

• Oric Pharmaceuticals shares fell 5.2% to about $10.50, while trading volume was 52% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, two Holds and one Sell rating; the consensus rating is “Moderate Buy” with an average price target of $19.27.
• The company missed its latest quarterly earnings estimate, reporting a loss of $0.34 per share versus expectations of $0.31, and analysts expect a full-year loss of $1.45 per share. Institutional investors own approximately 95.05% of the stock.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s stock price dropped 5.2% during trading on Monday . The company traded as low as $10.49 and last traded at $10.4980. 854,494 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,776,787 shares. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

ORIC has been the topic of several research analyst reports. Citigroup dropped their price objective on Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Benchmark reiterated a "buy" rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Finally, Stifel Nicolaus assumed coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They issued a "buy" rating and a $14.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $19.27.

Oric Pharmaceuticals Stock Performance

The stock has a market cap of $1.10 billion, a P/E ratio of -7.35 and a beta of 1.02. The stock has a 50-day moving average price of $9.72 and a 200-day moving average price of $10.41.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Oric Pharmaceuticals by 100.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company's stock worth $33,000 after acquiring an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Oric Pharmaceuticals by 184.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company's stock valued at $37,000 after purchasing an additional 2,936 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Oric Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company's stock valued at $39,000 after purchasing an additional 977 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $60,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $65,000. Hedge funds and other institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company's pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.