ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Down 3.4% - Should You Sell?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s stock price was down 3.4% during trading on Tuesday . The company traded as low as $8.00 and last traded at $8.05. Approximately 40,944 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 498,727 shares. The stock had previously closed at $8.33.

Analysts Set New Price Targets

ORIC has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a "buy" rating and a $20.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $18.29.

ORIC Pharmaceuticals Trading Down 1.7 %

The company has a market cap of $577.94 million, a P/E ratio of -4.55 and a beta of 1.13. The business's 50 day simple moving average is $9.22 and its 200 day simple moving average is $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

Insider Activity

In other news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the sale, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction 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 trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock worth $350,749 over the last ninety days. Corporate insiders own 5.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after buying an additional 196,804 shares in the last quarter. Barclays PLC boosted its position in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company's stock valued at $1,100,000 after acquiring an additional 56,474 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ORIC Pharmaceuticals by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company's stock valued at $13,056,000 after purchasing an additional 50,821 shares in the last quarter. M&T Bank Corp increased its position in ORIC Pharmaceuticals by 19.2% in the third quarter. M&T Bank Corp now owns 85,137 shares of the company's stock worth $873,000 after purchasing an additional 13,711 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in ORIC Pharmaceuticals by 42.0% during the third quarter. Wellington Management Group LLP now owns 174,388 shares of the company's stock valued at $1,787,000 after purchasing an additional 51,565 shares in the last quarter. Hedge funds and other 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.