Oruka Therapeutics, Inc. (NASDAQ:ORKA) Stock Has Average Target Price of $128.91

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $128.91.

ORKA has been the topic of several analyst reports. Mizuho set a $120.00 price target on shares of Oruka Therapeutics in a research note on Thursday, September 3rd. BTIG Research reissued a “buy” rating and set a $151.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Guggenheim restated a “buy” rating and set a $200.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Oruka Therapeutics in a research note on Thursday, September 24th. Finally, Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th.

Oruka Therapeutics Stock Performance

Shares of NASDAQ ORKA opened at $82.11 on Thursday. The business has a 50 day simple moving average of $94.58 and a 200 day simple moving average of $78.87. Oruka Therapeutics has a 52 week low of $24.31 and a 52 week high of $115.51. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of -40.45 and a beta of -0.37.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, analysts predict that Oruka Therapeutics will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joana Goncalves sold 7,947 shares of Oruka Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total value of $734,143.86. Following the transaction, the insider owned 31,771 shares of the company’s stock, valued at $2,935,004.98. This trade represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, SVP Arjun Agarwal sold 533 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $95.75, for a total transaction of $51,034.75. Following the completion of the sale, the senior vice president owned 14,219 shares of the company’s stock, valued at $1,361,469.25. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 147,950 shares of company stock valued at $13,619,306 over the last 90 days. 23.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Oruka Therapeutics in the 2nd quarter worth $474,916,000. Jupiter Topco LLC bought a new stake in Oruka Therapeutics during the second quarter valued at about $130,968,000. Remedium Capital Partners LLC boosted its holdings in Oruka Therapeutics by 0.9% during the first quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock valued at $76,796,000 after acquiring an additional 13,247 shares during the period. Perceptive Advisors LLC grew its position in shares of Oruka Therapeutics by 16.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,476,501 shares of the company’s stock valued at $44,753,000 after purchasing an additional 208,480 shares during the last quarter. Finally, Avidity Partners Management LP grew 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 valued at $37,299,000 after purchasing an additional 100,000 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

About Oruka Therapeutics

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company’s approach is designed to extend the duration of treatment and potentially reduce the frequency of dosing for patients with chronic inflammatory conditions.

Oruka’s pipeline includes ORKA-001 and ORKA-002, next-generation monoclonal antibodies targeting interleukin-23 (IL-23), a cytokine involved in several autoimmune and inflammatory diseases.