Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Short Interest Update

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 21,469,843 shares, an increase of 19.6% from the December 15th total of 17,956,700 shares. Currently, 23.3% of the shares of the stock are sold short. Based on an average trading volume of 1,512,222 shares, the days-to-cover ratio is currently 14.2 days. Based on an average trading volume of 1,512,222 shares, the days-to-cover ratio is currently 14.2 days. Currently, 23.3% of the shares of the stock are sold short.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, insider Pratik S. Multani sold 10,720 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the insider owned 68,149 shares of the company’s stock, valued at $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Chacko sold 33,374 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $302,368.44. Following the transaction, the chief executive officer owned 581,711 shares in the company, valued at $5,270,301.66. This trade represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,814 shares of company stock worth $496,615 over the last 90 days. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ORIC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after acquiring an additional 1,009 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Oric Pharmaceuticals by 2.9% during the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after purchasing an additional 1,358 shares during the period. ANTIPODES PARTNERS Ltd lifted its position in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after purchasing an additional 1,372 shares during the period. ProShare Advisors LLC boosted its holdings in Oric Pharmaceuticals by 12.9% in the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock worth $161,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Woodline Partners LP grew its position in Oric Pharmaceuticals by 0.9% in the 3rd quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock worth $2,958,000 after purchasing an additional 2,166 shares during the period. 95.05% of the stock is owned by institutional investors.

Oric Pharmaceuticals Trading Down 4.1%

Shares of ORIC opened at $11.62 on Wednesday. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.72 and a beta of 1.36. The firm’s 50-day moving average price is $10.10 and its 200-day moving average price is $10.89.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. On average, research analysts forecast that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Evercore ISI initiated coverage on shares of Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price target for the company. Citigroup raised their price objective on Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. lifted their price objective on Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.90.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.