Short Interest in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Decreases By 45.0%

Key Points

• The short interest for Oric Pharmaceuticals dropped by **45.0%** in July, with a total of **6,760,000 shares** short sold as of July 31st.
• Analysts have varying ratings for the stock, with a **consensus rating of "Moderate Buy"** and an average price target of **$17.63**.
• Insider transactions showed significant activity, with the CFO selling **32,466 shares** and a director acquiring **26,597 shares**, indicating mixed insider sentiment.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 6,760,000 shares, adeclineof45.0% from the July 15th total of 12,290,000 shares. Approximately8.5% of the shares of the stock are short sold. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 5.1 days. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately8.5% of the shares of the stock are short sold.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, Director Angie You acquired 26,597 shares of Oric Pharmaceuticals stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $9.39 per share, for a total transaction of $249,745.83. Following the completion of the transaction, the director directly owned 26,597 shares of the company's stock, valued at $249,745.83. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the sale, the chief financial officer owned 68,317 shares in the company, valued at $717,328.50. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $416,289 over the last 90 days. Company insiders own 6.82% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Oric Pharmaceuticals by 17,300.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company's stock worth $25,000 after purchasing an additional 2,422 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company's stock worth $53,000 after purchasing an additional 1,372 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Oric Pharmaceuticals in the 1st quarter worth approximately $56,000. BNP Paribas Financial Markets bought a new stake in shares of Oric Pharmaceuticals in the 4th quarter worth approximately $71,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Oric Pharmaceuticals in the 1st quarter worth approximately $102,000. Institutional investors own 95.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ORIC. LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a "buy" rating and a $15.00 price target for the company. Wedbush restated an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. dropped their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, Oppenheimer dropped their price target on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Oric Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $17.63.

Oric Pharmaceuticals Trading Up 0.5%

NASDAQ:ORIC traded up $0.05 during trading hours on Friday, hitting $9.74. The stock had a trading volume of 531,437 shares, compared to its average volume of 1,319,945. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67. The business has a 50 day simple moving average of $10.30 and a two-hundred day simple moving average of $8.07. The company has a market cap of $945.98 million, a PE ratio of -5.15 and a beta of 1.69.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.01). Research analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

About Oric Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.