ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 3.6%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price was down 3.6% during trading on Wednesday . The stock traded as low as $9.68 and last traded at $9.71. Approximately 84,478 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 531,467 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORIC. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Wednesday, August 14th. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, August 12th. Oppenheimer lowered their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday. They issued a “buy” rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $18.00.

ORIC Pharmaceuticals Stock Up 1.8 %

The stock’s fifty day moving average price is $9.67 and its 200-day moving average price is $10.17. The company has a market capitalization of $650.62 million, a price-to-earnings ratio of -5.38 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). Analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.78 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of ORIC Pharmaceuticals by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock worth $1,159,000 after purchasing an additional 1,180 shares during the last quarter. M&T Bank Corp raised its position in ORIC Pharmaceuticals by 18.3% during the fourth quarter. M&T Bank Corp now owns 83,926 shares of the company’s stock worth $772,000 after acquiring an additional 12,962 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of ORIC Pharmaceuticals by 104.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after acquiring an additional 6,617 shares during the period. ProShare Advisors LLC acquired a new position in shares of ORIC Pharmaceuticals during the 1st quarter worth about $161,000. Finally, Vanguard Group Inc. increased its stake in shares of ORIC Pharmaceuticals by 27.9% during the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares during the last quarter. Institutional investors own 95.05% of the company’s stock.

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.