Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Sees Large Growth in Short Interest

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) was the target of a significant increase in short interest in 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. Based on an average daily trading volume, of 1,512,222 shares, the short-interest ratio is currently 14.2 days. Currently, 23.3% of the company’s shares are short sold. Currently, 23.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,512,222 shares, the short-interest ratio is currently 14.2 days.

Insider Activity

In related news, CFO Dominic Piscitelli sold 10,720 shares of the firm’s 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 transaction, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacob Chacko sold 33,374 shares of Oric Pharmaceuticals 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 completion of the transaction, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at approximately $5,270,301.66. This represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 54,814 shares of company stock valued at $496,615. 6.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Orbimed Advisors LLC boosted its stake in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the period. Vanguard Group Inc. raised its holdings in shares of Oric Pharmaceuticals by 48.8% in the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after buying an additional 1,525,445 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Oric Pharmaceuticals by 3,646.1% during the second quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after buying an additional 1,299,799 shares during the period. Royce & Associates LP grew its holdings in shares of Oric Pharmaceuticals by 521.2% during the third quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock worth $17,502,000 after buying an additional 1,223,709 shares during the last quarter. Finally, Vivo Capital LLC grew its holdings in shares of Oric Pharmaceuticals by 50.3% during the second quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after buying an additional 1,046,154 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ORIC. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Tuesday, January 13th. Oppenheimer increased their target price on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Wolfe Research assumed coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Piper Sandler began coverage on Oric Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oric Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock traded up $0.60 during trading hours on Monday, hitting $12.12. The company had a trading volume of 1,807,993 shares, compared to its average volume of 1,617,120. The company’s 50-day moving average is $10.13 and its two-hundred day moving average is $10.87. The company has a market cap of $1.18 billion, a P/E ratio of -7.01 and a beta of 1.36. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93.

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

Oric Pharmaceuticals Company Profile

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.