ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Gap Down – Time to Sell?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) gapped down prior to trading on Monday . The stock had previously closed at $8.52, but opened at $8.28. ORIC Pharmaceuticals shares last traded at $8.45, with a volume of 131,461 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ORIC shares. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Price Performance

The firm has a 50 day moving average price of $9.38 and a 200 day moving average price of $9.37.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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). On average, research analysts expect that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in ORIC Pharmaceuticals by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after buying an additional 71,394 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in ORIC Pharmaceuticals during the 2nd quarter valued at approximately $724,000. Creative Planning purchased a new position in ORIC Pharmaceuticals during the 3rd quarter valued at approximately $116,000. Charles Schwab Investment Management Inc. grew its holdings in ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares in the last quarter. Finally, Monaco Asset Management SAM grew its holdings in ORIC Pharmaceuticals by 132.0% during the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock valued at $2,133,000 after buying an additional 171,650 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

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.