What's Behind The Drop In Oric Pharmaceuticals Stock Today?

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) are tumbling Wednesday after the company announced an update from the Phase 1b trial of rinzimetostat in combination with darolutamide in patients with metastatic castration-resistant prostate cancer. ORIC Pharmaceuticals stock is feeling bearish pressure. What’s pressuring ORIC stock? Prostate Cancer Data Turns Out Positive Oric Pharmaceuticals' downside is being driven by stock-specific de-risking after updated Phase 1b data for rinzimetostat (ORIC-944) combined with darolutamide in metastatic castration-resistant prostate cancer. At a median follow-up of about five months, the company reported an 84% radiographic progression-free survival rate. ORIC also selected a 400 mg once-daily dose as the recommended Phase 3 dose and guided to initiate its global Phase 3 Himalayas-1 trial in the first half of 2026. With Healthcare up 0.6% and market breadth positive (8 sectors advancing vs. 3 declining, with a 2.7 advance/decline ratio), ORIC's drop reads as stock-specific de-risking rather than a sector-led selloff. ORIC is also one of the session's biggest decliners, standing out even as Industrials (+1.98%) and Technology (+1.67%) lead the day. From a chart perspective, the sell-off is pushing the stock back toward a key "line in the sand" area near prior support, where traders often look for either capitulation and a bounce or a clean breakdown that resets the trend. ORIC had been showing constructive longer-term signals earlier this year, so this move is testing whether that bullish structure can survive a shock. ORIC Stock Dips Below Key Averages ORIC is trading 24.7% below its 20-day SMA and 17.3% below its 100-day SMA, a clear sign the short-term trend has broken down and the intermediate trend is under pressure. Shares are up 63.2% over the past 12 months, and the stock is positioned closer to its 52-week highs than lows despite the sharp pullback. RSI is at 56.34, which sits in neutral territory and suggests momentum hasn't fully "washed out" into oversold conditions yet. Meanwhile, MACD is bullish with the MACD line at 0.0630 above the signal line at 0.0288, pointing to underlying trend support even as price weakens. The combination of RSI above 50 with a bullish MACD suggests mixed momentum. Key Resistance: $11.00 Key Support: $9.00 ORIC Shares Tumble Wednesday ORIC Stock Price Activity: ORIC Pharmaceuticals shares were down 28.65% at $9.04 at the time of publication on Wednesday, according to Benzinga Pro data. Image: Shutterstock