Oruka Therapeutics (NASDAQ:ORKA) Hits New 12-Month High – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week high on Friday . The company traded as high as $91.12 and last traded at $90.60, with a volume of 4547354 shares traded. The stock had previously closed at $86.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Oruka Therapeutics in a report on Tuesday. Leerink Partners set a $120.00 price objective on Oruka Therapeutics in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Piper Sandler restated an “overweight” rating and set a $180.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.30.

Oruka Therapeutics Price Performance

The company has a market capitalization of $5.46 billion, a PE ratio of -46.65 and a beta of -0.26. The stock has a 50-day simple moving average of $66.45 and a 200 day simple moving average of $47.02.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.04. As a group, research analysts predict that Oruka Therapeutics, Inc. will post -2.06 EPS for the current fiscal year.

Insider Activity

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 1,587 shares of Oruka Therapeutics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $80.95, for a total value of $128,467.65. Following the completion of the sale, the senior vice president directly owned 15,312 shares of the company’s stock, valued at approximately $1,239,506.40. The trade was a 9.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of Oruka Therapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $69.28, for a total value of $550,568.16. Following the completion of the sale, the insider directly owned 32,718 shares of the company’s stock, valued at approximately $2,266,703.04. This represents a 19.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 185,407 shares of company stock worth $11,636,307 in the last three months. 23.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avidity Partners Management LP increased its position in shares of Oruka Therapeutics by 15.1% in the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock worth $37,299,000 after acquiring an additional 100,000 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Oruka Therapeutics by 11.7% during the 1st quarter. Glenmede Trust Co. NA now owns 21,772 shares of the company’s stock valued at $1,068,000 after acquiring an additional 2,287 shares in the last quarter. Remedium Capital Partners LLC lifted its position in Oruka Therapeutics by 0.9% during the 1st quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock worth $76,796,000 after acquiring an additional 13,247 shares in the last quarter. Royal Bank of Canada grew its holdings in Oruka Therapeutics by 178.5% during the 1st quarter. Royal Bank of Canada now owns 3,172 shares of the company’s stock valued at $155,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Rock Springs Capital Management LP purchased a new stake in shares of Oruka Therapeutics during the first quarter worth about $202,000. 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.