Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 5.4% – Should You Sell?

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) fell 5.4% on Monday . The company traded as low as $10.96 and last traded at $11.0130. Approximately 1,073,050 shares traded hands during trading, a decline of 40% from the average session volume of 1,802,280 shares. The stock had previously closed at $11.64.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ORIC. Citigroup reduced their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They set a “buy” rating and a $14.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Oric Pharmaceuticals Price Performance

The firm has a market cap of $1.13 billion, a PE ratio of -7.48 and a beta of 1.02. The business has a 50-day moving average price of $8.93 and a two-hundred day moving average price of $10.07.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). Equities analysts expect that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Federation des caisses Desjardins du Quebec grew its holdings in shares of Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after buying an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Oric Pharmaceuticals by 184.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock worth $37,000 after acquiring an additional 2,936 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Oric Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after acquiring an additional 977 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Oric Pharmaceuticals in the 3rd quarter valued at $60,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in shares of Oric Pharmaceuticals during the 3rd quarter worth $65,000. 95.05% of the stock is owned by institutional investors and hedge funds.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.