ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 3.5%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price fell 3.5% during trading on Monday . The company traded as low as $9.30 and last traded at $9.37. 37,687 shares changed hands during trading, a decline of 93% from the average session volume of 541,126 shares. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cantor Fitzgerald began coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Wedbush lifted their price target 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, HC Wainwright raised their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $19.80.

ORIC Pharmaceuticals Price Performance

The firm has a market cap of $631.73 million, a PE ratio of -4.68 and a beta of 1.19. The company has a 50-day simple moving average of $11.98 and a 200-day simple moving average of $9.91.

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

Insider Activity at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 13,958 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total value of $169,170.96. Following the completion of the sale, the chief executive officer now owns 794,586 shares in the company, valued at $9,630,382.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Vivo Capital LLC purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $4,707,000. Alkeon Capital Management LLC boosted its position in ORIC Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock valued at $21,050,000 after purchasing an additional 500,000 shares in the last quarter. Euclidean Capital LLC raised its holdings in ORIC Pharmaceuticals by 32.4% in the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after purchasing an additional 241,860 shares in the last quarter. Jump Financial LLC lifted its position in shares of ORIC Pharmaceuticals by 104.8% during the third quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock valued at $195,000 after buying an additional 16,449 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at about $81,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.