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

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. Based on an average daily volume of 1,512,222 shares, the short-interest ratio is currently 14.2 days. Approximately 23.3% of the shares of the company are sold short. Approximately 23.3% of the shares of the company are sold short. Based on an average daily volume of 1,512,222 shares, the short-interest ratio is currently 14.2 days.

Analyst Ratings Changes

Several brokerages recently issued reports on ORIC. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Citigroup lifted their target price on Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Piper Sandler started coverage on Oric Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wolfe Research started coverage on shares of Oric Pharmaceuticals in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.90.

Oric Pharmaceuticals Stock Up 5.2%

Shares of Oric Pharmaceuticals stock traded up $0.60 on Monday, reaching $12.12. The stock had a trading volume of 1,807,993 shares, compared to its average volume of 1,617,120. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The company has a 50 day moving average price of $10.13 and a 200 day moving average price of $10.87. The stock has a market capitalization of $1.18 billion, a P/E ratio of -7.01 and a beta of 1.36.

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

Insider Activity

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 33,374 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $302,368.44. Following the sale, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at $5,270,301.66. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pratik S. Multani sold 10,720 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the sale, the insider directly owned 68,149 shares in the company, valued at $617,429.94. This trade represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 54,814 shares of company stock valued at $496,615 in the last three months. Company insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Tema Etfs LLC purchased a new position in shares of Oric Pharmaceuticals in the fourth quarter valued at approximately $228,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Oric Pharmaceuticals by 15.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 170,072 shares of the company’s stock worth $1,391,000 after buying an additional 23,024 shares in the last quarter. SG Americas Securities LLC boosted its position in Oric Pharmaceuticals by 127.6% during the fourth quarter. SG Americas Securities LLC now owns 41,016 shares of the company’s stock worth $336,000 after acquiring an additional 22,993 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in shares of Oric Pharmaceuticals in the 3rd quarter worth approximately $65,000. Finally, Woodline Partners LP boosted its position in shares of Oric Pharmaceuticals by 0.9% during 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. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.