Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 13.7% – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price traded down 13.7% during mid-day trading on Monday. The company traded as low as $12.87 and last traded at $11.37. Approximately 154,429 shares changed hands during trading, a decline of 91% from the average daily volume of 1,675,902 shares. The stock had previously closed at $13.17.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus set a $18.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, October 15th. Leerink Partners assumed coverage on shares of Oric Pharmaceuticals in a research note on Monday, October 5th. They issued an “outperform” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Oric Pharmaceuticals Trading Down 25.9%

The business has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $11.04. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -7.25 and a beta of 0.99.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). Research analysts anticipate that Oric Pharmaceuticals, Inc. will post -1.53 EPS for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 14,000 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total value of $189,420.00. Following the sale, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at $944,772.84. This represents a 16.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock valued at $1,432,952 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in Oric Pharmaceuticals in the 2nd quarter worth approximately $38,000. Quantbot Technologies LP purchased a new stake in Oric Pharmaceuticals during the second quarter valued at about $46,000. Canada Pension Plan Investment Board acquired a new position in Oric Pharmaceuticals in the 2nd quarter worth approximately $128,000. E Fund Management Co. Ltd. purchased a new position in shares of Oric Pharmaceuticals during the second quarter valued at $139,000. Finally, Ieq Capital LLC acquired a new position in Oric Pharmaceuticals during the second quarter valued at $146,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric’s pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.