Oric Pharmaceuticals (NASDAQ:ORIC) Shares Down 5.6% – Here’s Why

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares fell 5.6% on Tuesday . The stock traded as low as $10.46 and last traded at $10.5290. 641,370 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,160,643 shares. The stock had previously closed at $11.15.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. HC Wainwright lifted their price target on Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Evercore ISI initiated coverage on Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Oric Pharmaceuticals Price Performance

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -6.14 and a beta of 1.32. The stock has a 50-day moving average of $12.41 and a 200-day moving average of $10.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.08. On average, equities analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the transaction, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Chacko sold 37,461 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the transaction, the chief executive officer owned 531,419 shares of the company’s stock, valued at $6,547,082.08. The trade was a 6.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 261,000 shares of company stock worth $3,024,703 over the last quarter. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after purchasing an additional 1,009 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Oric Pharmaceuticals by 2.9% during the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock worth $497,000 after buying an additional 1,358 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after buying an additional 1,372 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Oric Pharmaceuticals by 12.9% in the 3rd quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of Oric Pharmaceuticals by 0.9% during the 3rd quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after acquiring an additional 2,166 shares in the last quarter. 95.05% of the stock is 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.