Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.4% – Should You Sell?

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) were down 5.4% during trading on Monday . The company traded as low as $10.96 and last traded at $11.0130. Approximately 1,073,050 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,802,280 shares. The stock had previously closed at $11.64.

Analyst Ratings Changes

ORIC has been the topic of several recent analyst reports. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen downgraded shares of Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Stifel Nicolaus assumed coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Wedbush decreased their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.92.

Oric Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $8.91 and a 200-day simple moving average of $10.04. The company has a market cap of $1.15 billion, a P/E ratio of -7.67 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC boosted its position in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after acquiring an additional 2,742,475 shares during the period. Paradigm Biocapital Advisors LP purchased a new stake in Oric Pharmaceuticals in the fourth quarter worth about $19,642,000. Siren L.L.C. increased its holdings in shares of Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after buying an additional 1,990,617 shares during the last quarter. State Street Corp increased its holdings in Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after buying an additional 1,854,458 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Oric Pharmaceuticals by 48.8% during the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after purchasing an additional 1,525,445 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.