Oruka Therapeutics (NASDAQ:ORKA) Hits New 52-Week High – Here’s What Happened

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week high on Wednesday . The stock traded as high as $43.66 and last traded at $44.00, with a volume of 129530 shares. The stock had previously closed at $39.90.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ORKA. Piper Sandler started coverage on Oruka Therapeutics in a report on Thursday, December 18th. They set an “overweight” rating and a $75.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research report on Friday, March 13th. Stifel Nicolaus upped their target price on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 13th. UBS Group started coverage on shares of Oruka Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $73.00 price target on shares of Oruka Therapeutics in a research note on Friday, March 13th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Oruka Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $59.60.

Oruka Therapeutics Stock Performance

The company’s 50-day moving average price is $34.63 and its 200 day moving average price is $28.91. The stock has a market cap of $2.21 billion, a PE ratio of -23.96 and a beta of -0.38.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.16. On average, sell-side analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Insider Activity at Oruka Therapeutics

In other news, CEO Lawrence Otto Klein sold 1,729 shares of Oruka Therapeutics stock in a transaction on Monday, March 16th. The shares were sold at an average price of $41.30, for a total transaction of $71,407.70. Following the transaction, the chief executive officer owned 927,309 shares in the company, valued at $38,297,861.70. This trade represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joana Goncalves sold 7,641 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $40.91, for a total transaction of $312,593.31. Following the sale, the insider directly owned 33,377 shares of the company’s stock, valued at approximately $1,365,453.07. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,765 shares of company stock worth $849,575 over the last quarter. Insiders own 24.69% of the company’s stock.

Institutional Trading of Oruka Therapeutics

Several hedge funds have recently bought and sold shares of ORKA. Royal Bank of Canada increased its position in Oruka Therapeutics by 47.2% in the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock worth $34,000 after buying an additional 365 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Oruka Therapeutics by 0.9% during the 4th quarter. Kennedy Capital Management LLC now owns 48,686 shares of the company’s stock valued at $1,476,000 after buying an additional 420 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Oruka Therapeutics by 35.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,041 shares of the company’s stock valued at $92,000 after buying an additional 788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Oruka Therapeutics by 62.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,352 shares of the company’s stock valued at $71,000 after acquiring an additional 904 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Oruka Therapeutics during the 4th quarter valued at approximately $37,000. Institutional investors own 56.44% of the company’s stock.

About Oruka Therapeutics

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.