Stock Traders Purchase High Volume of Put Options on Oric Pharmaceuticals (NASDAQ:ORIC)

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

Wall Street Analyst Weigh In

A number of research firms have commented on ORIC. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They issued a “buy” rating and a $14.00 price objective on the stock. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, May 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. Thirteen 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Oric Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after buying an additional 977 shares during the period. California State Teachers Retirement System raised its holdings in Oric Pharmaceuticals by 3.9% in the fourth quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock valued at $278,000 after acquiring an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Oric Pharmaceuticals by 1.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock worth $1,042,000 after acquiring an additional 1,985 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Oric Pharmaceuticals by 100.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Oric Pharmaceuticals by 21.0% during the 4th quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock worth $99,000 after acquiring an additional 2,107 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC traded up $1.33 during trading on Tuesday, reaching $11.93. The stock had a trading volume of 984,832 shares, compared to its average volume of 1,778,136. The business’s 50-day moving average price is $9.77 and its 200-day moving average price is $10.41. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.93. The company has a market cap of $1.23 billion, a P/E ratio of -8.30 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). Analysts forecast that Oric Pharmaceuticals will post -1.45 EPS for the current fiscal 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.