ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Down 3.5%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price fell 3.5% during mid-day trading on Monday . The company traded as low as $9.30 and last traded at $9.37. 37,687 shares changed hands during trading, a decline of 93% from the average session volume of 541,126 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ORIC shares. Citigroup dropped their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Cantor Fitzgerald initiated coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating for the company. HC Wainwright upped their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Wedbush boosted their price target on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $20.00.

ORIC Pharmaceuticals Trading Down 0.1 %

The firm has a market cap of $647.23 million, a P/E ratio of -4.90 and a beta of 1.19. The stock’s fifty day moving average is $11.88 and its two-hundred day moving average is $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vivo Capital LLC purchased a new position in ORIC Pharmaceuticals in the 3rd quarter worth $4,707,000. Alkeon Capital Management LLC increased its holdings in shares of ORIC Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after buying an additional 500,000 shares during the period. Euclidean Capital LLC lifted its stake in shares of ORIC Pharmaceuticals by 32.4% in the 3rd quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after acquiring an additional 241,860 shares during the last quarter. Strs Ohio purchased a new stake in ORIC Pharmaceuticals during the 4th quarter valued at about $72,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in ORIC Pharmaceuticals during the 4th quarter worth approximately $58,000. 95.05% of the stock is currently owned by institutional investors.

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.