Investors Purchase High Volume of Oric Pharmaceuticals Put Options (NASDAQ:ORIC)

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) saw unusually large options trading on Tuesday. Investors purchased 2,349 put options on the company. This is an increase of 575% compared to the average daily volume of 348 put options.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. AQR Capital Management LLC acquired a new stake in Oric Pharmaceuticals during the 1st quarter worth approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Oric Pharmaceuticals by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock valued at $226,000 after purchasing an additional 3,131 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Oric Pharmaceuticals by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock valued at $1,645,000 after purchasing an additional 24,778 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Oric Pharmaceuticals by 1,331.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock worth $2,841,000 after purchasing an additional 473,600 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Oric Pharmaceuticals by 56.0% during the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock worth $174,000 after buying an additional 11,198 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Stock Up 12.5%

NASDAQ:ORIC traded up $1.33 during mid-day trading on Tuesday, reaching $11.93. 984,832 shares of the stock were exchanged, compared to its average volume of 1,778,136. The company has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $10.41. The stock has a market capitalization of $1.23 billion, a P/E ratio of -8.30 and a beta of 1.02. Oric Pharmaceuticals has a 1 year low of $7.23 and a 1 year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). As a group, research analysts predict that Oric Pharmaceuticals will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ORIC. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, May 15th. Citigroup reduced their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

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.