Oruka Therapeutics (NASDAQ:ORKA) Sets New 1-Year High – Still a Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $32.31 and last traded at $32.3350, with a volume of 385776 shares. The stock had previously closed at $31.84.

Wall Street Analyst Weigh In

Several research firms have weighed in on ORKA. HC Wainwright lowered their price target on shares of Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Piper Sandler began coverage on Oruka Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $75.00 target price on the stock. Barclays assumed coverage on Oruka Therapeutics in a report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Jefferies Financial Group began coverage on Oruka Therapeutics in a research report on Thursday, November 13th. They set a “buy” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.88.

Oruka Therapeutics Stock Up 0.4%

The stock has a 50 day moving average of $28.46 and a 200 day moving average of $19.63. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -16.83 and a beta of -0.41.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.01. As a group, analysts predict that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.61, for a total value of $214,270.00. Following the transaction, the insider owned 1,518 shares in the company, valued at approximately $46,465.98. This trade represents a 82.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.69% of the company’s stock.

Institutional Trading of Oruka Therapeutics

Several large investors have recently bought and sold shares of ORKA. Viking Global Investors LP acquired a new stake in Oruka Therapeutics during the 3rd quarter worth about $51,280,000. Avoro Capital Advisors LLC bought a new position in Oruka Therapeutics during the third quarter worth $25,640,000. Deep Track Capital LP grew its holdings in Oruka Therapeutics by 38.4% in the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock worth $51,051,000 after purchasing an additional 735,983 shares during the period. Braidwell LP increased its stake in Oruka Therapeutics by 37.0% in the first quarter. Braidwell LP now owns 1,572,426 shares of the company’s stock valued at $16,133,000 after purchasing an additional 424,750 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Oruka Therapeutics by 100.6% in the second quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock valued at $7,932,000 after purchasing an additional 354,821 shares in the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of novel peptide‐based therapies for oncology. The company’s proprietary stapled peptide platform is designed to selectively disrupt intracellular protein–protein interactions that drive tumor growth and immune evasion. By combining the specificity of biologics with the cell‐permeability of small molecules, Oruka aims to target cancer pathways that have been historically considered “undruggable.”

The company’s lead candidate, ONCT-01, is currently in Phase 1 clinical trials for patients with advanced solid tumors, assessing safety, tolerability and preliminary efficacy.