Oric Pharmaceuticals (NASDAQ:ORIC) Stock Crosses Below 200-Day Moving Average - Should You Sell?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $11.14 and traded as low as $8.88. Oric Pharmaceuticals shares last traded at $8.95, with a volume of 6,942,854 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ORIC. Weiss Ratings restated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 14th. Leerink Partners initiated coverage on shares of Oric Pharmaceuticals in a research report on Monday, October 5th. They issued an "outperform" rating and a $26.00 target price on the stock. Wall Street Zen upgraded Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, HC Wainwright lifted their price target on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Oric Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $21.50.

Oric Pharmaceuticals Trading Down 32.0%

The firm has a market cap of $927.67 million, a PE ratio of -6.63 and a beta of 0.99. The company has a 50 day moving average price of $12.85 and a 200 day moving average price of $11.14.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.02). As a group, equities research analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. The trade was a 52.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 105,000 shares of company stock valued at $1,432,952. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ORIC. BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals during the second quarter valued at about $73,904,000. Siren L.L.C. boosted its holdings in Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock worth $37,987,000 after purchasing an additional 1,990,617 shares during the period. Algert Global LLC lifted its position in shares of Oric Pharmaceuticals by 791.3% in the 2nd quarter. Algert Global LLC now owns 1,215,293 shares of the company's stock worth $13,162,000 after buying an additional 1,078,943 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Oric Pharmaceuticals in the 2nd quarter valued at about $11,675,000. Finally, Defilade Capital Management L.P. acquired a new position in shares of Oric Pharmaceuticals in the 1st quarter valued at about $10,680,000. 95.05% of the stock is owned by institutional investors and hedge funds.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc NASDAQ: ORIC is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric's pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.

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