Oruka Therapeutics, Inc. (NASDAQ:ORKA) Short Interest Down 31.3% in January

Oruka Therapeutics, Inc. (NASDAQ:ORKA) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 5,241,278 shares, a drop of 31.3% from the December 31st total of 7,626,531 shares. Based on an average trading volume of 475,433 shares, the days-to-cover ratio is presently 11.0 days. Currently, 14.4% of the company’s shares are short sold. Currently, 14.4% of the company’s shares are short sold. Based on an average trading volume of 475,433 shares, the days-to-cover ratio is presently 11.0 days.

Oruka Therapeutics Trading Down 2.9%

NASDAQ:ORKA traded down $1.03 on Friday, reaching $34.23. The stock had a trading volume of 383,499 shares, compared to its average volume of 502,870. The company has a 50-day moving average of $30.93 and a 200 day moving average of $23.51. The stock has a market cap of $1.66 billion, a P/E ratio of -18.02 and a beta of -0.39. Oruka Therapeutics has a 12-month low of $5.49 and a 12-month high of $36.51.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.01. On average, equities analysts predict that Oruka Therapeutics will post -3.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ORKA. Barclays began coverage on shares of Oruka Therapeutics in a report on Monday, October 13th. They issued an “overweight” rating and a $48.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Thursday, January 22nd. Wedbush lifted their target price on shares of Oruka Therapeutics from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. Jefferies Financial Group started coverage on Oruka Therapeutics in a report on Thursday, November 13th. They issued a “buy” rating and a $45.00 price target for the company. Finally, UBS Group assumed coverage on Oruka Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Oruka Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $31.81, for a total transaction of $222,670.00. Following the completion of the sale, the insider directly owned 1,518 shares in the company, valued at $48,287.58. This represents a 82.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 24.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in Oruka Therapeutics during the first quarter worth $2,505,000. Aberdeen Group plc acquired a new position in shares of Oruka Therapeutics in the 2nd quarter valued at about $879,000. Geode Capital Management LLC boosted its holdings in shares of Oruka Therapeutics by 100.6% in the 2nd quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock valued at $7,932,000 after buying an additional 354,821 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at about $68,000. Finally, Intech Investment Management LLC acquired a new stake in Oruka Therapeutics during the second quarter worth about $168,000. Institutional investors and hedge funds 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.