ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 4%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price was down 4% during mid-day trading on Thursday . The company traded as low as $9.37 and last traded at $9.37. Approximately 33,834 shares changed hands during mid-day 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

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

ORIC Pharmaceuticals Stock Performance

The company has a 50-day moving average of $12.51 and a 200 day moving average of $9.63.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). As a group, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 13,958 shares of ORIC Pharmaceuticals stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction of $169,170.96. Following the completion of the sale, the chief executive officer now owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.34% of the company’s stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in shares of ORIC Pharmaceuticals in the 2nd quarter valued at about $25,000. Royal Bank of Canada lifted its stake in shares of ORIC Pharmaceuticals by 67,750.0% in the 2nd quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock valued at $32,000 after acquiring an additional 4,065 shares during the last quarter. AJOVista LLC bought a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $40,000. UBS Group AG lifted its stake in shares of ORIC Pharmaceuticals by 3,233.1% in the 4th quarter. UBS Group AG now owns 4,433 shares of the company’s stock valued at $26,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Group One Trading L.P. bought a new stake in shares of ORIC Pharmaceuticals in the 1st quarter valued at about $26,000. Institutional investors own 95.05% of the company’s stock.

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.