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          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
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      <liveTestFlag>LIVE</liveTestFlag>



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  <formData>
    <issuerInfo>
      <issuerCik>0000276720</issuerCik>
      <issuerName>PURE CYCLE CORP</issuerName>
      <secFileNumber>000-08814</secFileNumber>
      <issuerAddress>
        <com:street1>34501 E. QUINCY AVE</com:street1>
        <com:street2>BLDG. 34</com:street2>
        <com:city>WATKINS</com:city>
        <com:stateOrCountry>CO</com:stateOrCountry>
        <com:zipCode>80137</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>3032923456</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>HARDING MARK W</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Charles Schwab Corp.</name>
        <address>
          <com:street1>3000 Schwab Way</com:street1>
          <com:city>Westlake</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>76262</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>20000</noOfUnitsSold>
      <aggregateMarketValue>250800.00</aggregateMarketValue>
      <noOfUnitsOutstanding>24054843</noOfUnitsOutstanding>
      <approxSaleDate>08/03/2023</approxSaleDate>
      <securitiesExchangeName>Nasdaq</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <acquiredDate>04/26/2007</acquiredDate>
      <natureOfAcquisitionTransaction>Employee Stock Option Exercise</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pure Cycle Corp.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>20000</amountOfSecuritiesAcquired>
      <paymentDate>04/26/2007</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>08/03/2023</noticeDate>
      <signature>Mark W. Harding</signature>
    </noticeSignature>
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144
0000940763
XXXXXXXX
LIVE
0000276720
PURE CYCLE CORP
000-08814
34501 E. QUINCY AVE
BLDG. 34
WATKINS
CO
80137
3032923456
HARDING MARK W
Officer
Director
Common
Charles Schwab Corp.
3000 Schwab Way
Westlake
TX
76262
20000
250800.00
24054843
08/03/2023
Nasdaq
Common
04/26/2007
Employee Stock Option Exercise
Pure Cycle Corp.
N
20000
04/26/2007
N/A
Y
08/03/2023
Mark W. Harding