ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.6% – Should You Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price traded down 5.6% during trading on Tuesday . The stock traded as low as $7.95 and last traded at $7.90. 306,326 shares changed hands during trading, a decline of 75% from the average session volume of 1,210,882 shares. The stock had previously closed at $8.36.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday, February 10th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.71.

ORIC Pharmaceuticals Stock Down 6.1 %

The firm has a 50 day moving average price of $9.35 and a 200 day moving average price of $9.53. The stock has a market cap of $553.97 million, a P/E ratio of -4.36 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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 analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock valued at $350,749 over the last quarter. 5.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after purchasing an additional 1,279 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after purchasing an additional 1,395 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 8.5% in the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock worth $193,000 after purchasing an additional 1,876 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ORIC Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after purchasing an additional 2,520 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of ORIC Pharmaceuticals by 5.4% in the fourth quarter. Swiss National Bank now owns 62,400 shares of the company’s stock worth $504,000 after purchasing an additional 3,200 shares during the last quarter. 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.