ORIC Pharmaceuticals Inc (NASDAQ:ORIC) stock last traded at $5.45. The stock is down over 65% YTD. The stock prices recently surged after the company announced that it has entered into a clinical development collaboration with pharma giant Pfizer PFE for a potential phase II study evaluating ORIC-533 for multiple myeloma.
Lets take a look at the chart below
ORIC is a base trade that’s in play above $5 for a move to middle $7’s. The company had excellent news recently and now one can note the reason this weekly chart seen above won’t make a move toward double digits in 2023. If $5.11 can’t hold up from the August spike then maybe it $3-$5 sideways channel.