ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 5.6%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) fell 5.6% during mid-day trading on Wednesday . The stock traded as low as $8.27 and last traded at $8.28. 159,410 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 544,651 shares. The stock had previously closed at $8.77.

Analysts Set New Price Targets

Several brokerages recently issued reports on ORIC. Wedbush increased their price target on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 1st. HC Wainwright upped their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Finally, Cantor Fitzgerald began coverage on shares of ORIC Pharmaceuticals in a research report on Friday, February 23rd. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $19.80.

ORIC Pharmaceuticals Price Performance

The firm’s 50-day moving average price is $12.20 and its 200 day moving average price is $9.72. The firm has a market cap of $543.72 million, a P/E ratio of -4.12 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). Analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 13,958 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total value of $169,170.96. Following the transaction, the chief executive officer now owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of ORIC Pharmaceuticals by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,180 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ORIC Pharmaceuticals by 6.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock valued at $203,000 after purchasing an additional 1,362 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of ORIC Pharmaceuticals by 19.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after purchasing an additional 1,517 shares during the period. AJOVista LLC acquired a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at approximately $40,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds 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.