ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Down 9.4%

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

Analysts Set New Price Targets

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

ORIC Pharmaceuticals Trading Down 5.8 %

The business’s 50-day moving average price is $8.91 and its 200-day moving average price is $10.41. The stock has a market cap of $571.06 million, a PE ratio of -4.71 and a beta of 1.13.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ORIC Pharmaceuticals by 27.9% in the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after purchasing an additional 629,536 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after purchasing an additional 915,175 shares in the last quarter. NEA Management Company LLC purchased a new stake in ORIC Pharmaceuticals in the 1st quarter valued at about $20,625,000. Vivo Capital LLC lifted its stake in shares of ORIC Pharmaceuticals by 9.2% in the 4th quarter. Vivo Capital LLC now owns 849,681 shares of the company’s stock valued at $7,817,000 after purchasing an additional 71,737 shares in the last quarter. Finally, Monaco Asset Management SAM lifted its position in ORIC Pharmaceuticals by 132.0% during the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after acquiring an additional 171,650 shares in the last quarter. Institutional investors and hedge funds 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.