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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) passed 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 changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on ORIC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. Stifel Nicolaus upped their price target on shares of Oric Pharmaceuticals from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Monday. Wedbush dropped their price target on shares of Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, HC Wainwright raised their price objective on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Oric Pharmaceuticals Price Performance

The stock has a market capitalization of $963.95 million, a PE ratio of -6.89 and a beta of 0.99. The business’s fifty day moving average price is $12.67 and its 200-day moving average price is $11.15.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). On average, analysts expect 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 14,000 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total transaction of $189,420.00. Following the completion of the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at $944,772.84. The trade was a 16.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd purchased a new stake in Oric Pharmaceuticals in the second quarter valued at approximately $899,000. Defilade Capital Management L.P. bought a new stake in Oric Pharmaceuticals during the first quarter valued at approximately $10,680,000. Blue Owl Capital Holdings LP bought a new stake in Oric Pharmaceuticals during the second quarter valued at approximately $4,332,000. Squarepoint Ops LLC purchased a new position in Oric Pharmaceuticals in the 2nd quarter worth approximately $3,729,000. Finally, Bank of America Corp DE purchased a new position in Oric Pharmaceuticals in the 2nd quarter worth approximately $11,675,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Company Profile

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.