ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 5.2% - What's Next?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares fell 5.2% during mid-day trading on Monday . The stock traded as low as $8.73 and last traded at $8.92. 92,096 shares changed hands during trading, a decline of 82% from the average session volume of 517,284 shares. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ORIC. Oppenheimer dropped their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research note on Thursday. They issued an "overweight" rating and a $20.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has an average rating of "Buy" and an average price target of $18.29.

ORIC Pharmaceuticals Trading Up 0.7 %

The company has a market capitalization of $668.74 million, a P/E ratio of -4.99 and a beta of 1.13. The stock has a 50 day moving average price of $9.73 and a 200 day moving average price of $9.25.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.03). On average, research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company's stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC raised its position in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company's stock worth $73,000 after acquiring an additional 7,440 shares in the last quarter. Creative Planning bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $116,000. China Universal Asset Management Co. Ltd. raised its position in shares of ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company's stock worth $139,000 after acquiring an additional 5,646 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ORIC Pharmaceuticals in the 2nd quarter worth about $153,000. 95.05% of the stock is owned by 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.