ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 6.4% - Should You Sell?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) fell 6.4% during mid-day trading on Wednesday . The stock traded as low as $9.11 and last traded at $9.22. 198,116 shares changed hands during trading, a decline of 82% from the average session volume of 1,126,301 shares. The stock had previously closed at $9.85.

Analyst Ratings Changes

Several research firms have recently issued reports on ORIC. Wedbush restated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Monday, February 10th. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, February 11th. Finally, Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an "overweight" rating and a $20.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $18.71.

ORIC Pharmaceuticals Price Performance

The stock has a market cap of $589.94 million, a P/E ratio of -4.64 and a beta of 1.21. The company has a fifty day moving average of $9.37 and a 200 day moving average of $9.56.

Insider Buying and Selling

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares of the company's stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dominic Piscitelli sold 8,851 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the completion of the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock valued at $350,749 over the last quarter. Corporate insiders own 5.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company's stock valued at $361,000 after buying an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in ORIC Pharmaceuticals by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock valued at $121,000 after purchasing an additional 1,395 shares during the period. Invesco Ltd. raised its stake in ORIC Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company's stock valued at $193,000 after purchasing an additional 1,876 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of ORIC Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock valued at $504,000 after acquiring an additional 3,200 shares in 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.