ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.2% – Time to Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shares were down 5.2% on Monday . The company traded as low as $8.73 and last traded at $8.92. Approximately 92,096 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 517,284 shares. The stock had previously closed at $9.41.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ORIC. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Price Performance

The business has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $9.26. The company has a market capitalization of $684.94 million, a price-to-earnings ratio of -5.53 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ORIC. Victory Capital Management Inc. increased its holdings in ORIC Pharmaceuticals by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,900 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in ORIC Pharmaceuticals by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 137,962 shares of the company’s stock worth $1,414,000 after acquiring an additional 35,528 shares during the last quarter. Creative Planning acquired a new position in ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $714,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.