Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year High – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price hit a new 52-week high on Thursday . The company traded as high as $32.89 and last traded at $32.50, with a volume of 368184 shares trading hands. The stock had previously closed at $32.00.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ORKA shares. Guggenheim began coverage on Oruka Therapeutics in a report on Monday, October 27th. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Wednesday, October 8th. Wedbush boosted their price target on Oruka Therapeutics from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research note on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

Oruka Therapeutics Stock Up 1.6%

The company has a market cap of $1.57 billion, a price-to-earnings ratio of -17.11 and a beta of -0.39. The firm has a 50 day moving average price of $29.40 and a two-hundred day moving average price of $21.81.

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

Insider Buying and Selling at Oruka Therapeutics

In other news, insider Joana Goncalves sold 7,000 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.61, for a total transaction of $214,270.00. Following the completion of the sale, the insider directly owned 1,518 shares in the company, valued at $46,465.98. This represents a 82.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.69% of the stock is currently owned by company insiders.

Institutional Trading of Oruka Therapeutics

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Oruka Therapeutics by 6.1% during the third quarter. Rhumbline Advisers now owns 30,327 shares of the company’s stock worth $583,000 after purchasing an additional 1,757 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $39,000. Russell Investments Group Ltd. bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $43,000. BNP Paribas Financial Markets grew its position in shares of Oruka Therapeutics by 464.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock worth $31,000 after buying an additional 2,306 shares during the period. Finally, Legal & General Group Plc bought a new stake in shares of Oruka Therapeutics in the 2nd quarter valued at $28,000. 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.