ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Down 4%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price was down 4% during mid-day trading on Thursday . The stock traded as low as $9.37 and last traded at $9.37. Approximately 33,834 shares were traded during trading, a decline of 94% from the average daily volume of 547,487 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

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

ORIC Pharmaceuticals Stock Down 2.0 %

The company has a 50-day simple moving average of $12.57 and a two-hundred day simple moving average of $9.63. The firm has a market cap of $644.15 million, a PE ratio of -5.03 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, meeting analysts’ consensus estimates of ($0.49). As a group, equities analysts predict that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Insider Activity

In other news, CEO Jacob Chacko sold 13,958 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction of $169,170.96. Following the transaction, the chief executive officer now owns 794,586 shares of the company’s stock, valued at approximately $9,630,382.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vivo Capital LLC purchased a new position in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $4,707,000. Alkeon Capital Management LLC raised its stake in shares of ORIC Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock valued at $21,050,000 after purchasing an additional 500,000 shares during the period. Euclidean Capital LLC raised its stake in shares of ORIC Pharmaceuticals by 32.4% during the 3rd quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after purchasing an additional 241,860 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of ORIC Pharmaceuticals during the 4th quarter valued at $58,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

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.