ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Down 9.4%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price was down 9.4% on Monday . The stock traded as low as $8.58 and last traded at $8.80. Approximately 165,313 shares traded hands during trading, a decline of 70% from the average daily volume of 543,995 shares. The stock had previously closed at $9.71.

Analyst Ratings Changes

A number of analysts have recently commented on ORIC shares. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday, July 17th. Citigroup reduced their target price on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Oppenheimer restated an “outperform” rating and issued a $17.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $19.50.

ORIC Pharmaceuticals Price Performance

The company has a market capitalization of $571.06 million, a PE ratio of -4.71 and a beta of 1.13. The stock has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $10.41.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, May 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.07. As a group, research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. NEA Management Company LLC acquired a new stake in shares of ORIC Pharmaceuticals during the 1st quarter worth approximately $20,625,000. Price T Rowe Associates Inc. MD grew its holdings in shares of ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after buying an additional 915,175 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after buying an additional 629,536 shares in the last quarter. Monaco Asset Management SAM boosted its position in ORIC Pharmaceuticals by 132.0% during the second quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock valued at $2,133,000 after purchasing an additional 171,650 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of ORIC Pharmaceuticals in the second quarter worth about $724,000. 95.05% of the stock is currently 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.