ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.6% – Time to Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORICGet Free Report) was down 5.6% during mid-day trading on Tuesday . The company traded as low as $7.95 and last traded at $7.90. Approximately 306,326 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,210,882 shares. The stock had previously closed at $8.36.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ORIC shares. JPMorgan Chase & Co. increased their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Monday, February 10th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, February 11th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.71.

Get Our Latest Report on ORIC Pharmaceuticals

ORIC Pharmaceuticals Trading Down 5.9 %

The company has a market capitalization of $527.16 million, a P/E ratio of -4.10 and a beta of 1.21. The company’s fifty day moving average is $9.29 and its 200 day moving average is $9.50.

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.01. Equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -2.16 EPS for the current year.

Insider Buying and Selling at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the sale, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 over the last three months. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. KLP Kapitalforvaltning AS bought a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at $50,000. BNP Paribas Financial Markets bought a new stake in ORIC Pharmaceuticals during the 4th quarter valued at about $71,000. Creative Planning purchased a new position in ORIC Pharmaceuticals in the third quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. Finally, PNC Financial Services Group Inc. increased its position in shares of ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

(Get Free Report)

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.

Further Reading

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