Short Interest in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Increases By 19.6%

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 21,469,843 shares, a growth 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 daily trading volume, of 1,512,222 shares, the days-to-cover ratio is presently 14.2 days. Based on an average daily trading volume, of 1,512,222 shares, the days-to-cover ratio is presently 14.2 days. Currently, 23.3% of the shares of the stock are sold short.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the transaction, the chief financial officer owned 68,148 shares of the company’s stock, valued at approximately $617,420.88. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the sale, the insider owned 68,149 shares in the company, valued at $617,429.94. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 54,814 shares of company stock valued at $496,615. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Oric Pharmaceuticals by 48.8% in the 3rd 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. Alkeon Capital Management LLC raised its holdings in shares of Oric Pharmaceuticals by 12.5% in the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after purchasing an additional 500,000 shares during the last quarter. Orbimed Advisors LLC lifted its position 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 buying an additional 2,742,475 shares in the last quarter. Vivo Capital LLC boosted its stake in shares of Oric Pharmaceuticals by 50.3% during the 2nd 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. Finally, MPM Bioimpact LLC boosted its stake in shares of Oric Pharmaceuticals by 23.6% during the 2nd quarter. MPM Bioimpact LLC now owns 1,729,378 shares of the company’s stock worth $17,553,000 after buying an additional 329,864 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC traded down $0.50 during trading hours on Tuesday, hitting $11.62. The stock had a trading volume of 1,818,805 shares, compared to its average volume of 1,905,154. The business’s 50 day moving average is $10.13 and its 200-day moving average is $10.88. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -6.72 and a beta of 1.36. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08. On average, sell-side analysts anticipate that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler began coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. raised their price target on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Oppenheimer boosted their price objective on Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Evercore ISI assumed coverage on shares of Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Citigroup increased their price objective on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 17th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target 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.