Oruka Therapeutics’ (ORKA) Buy Rating Reiterated at HC Wainwright

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $120.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 24.34% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. BTIG Research reaffirmed a “buy” rating and issued a $151.00 price objective on shares of Oruka Therapeutics in a report on Monday, July 13th. Piper Sandler reissued an “overweight” rating and set a $180.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Wedbush set a $165.00 price objective on Oruka Therapeutics in a research note on Monday, April 27th. Leerink Partners set a $120.00 price objective on shares of Oruka Therapeutics in a research note on Thursday, April 30th. Finally, Barclays raised their target price on shares of Oruka Therapeutics from $78.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Ten research analysts have rated the stock with 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 price target of $134.30.

Oruka Therapeutics Stock Performance

Shares of ORKA stock opened at $96.51 on Monday. Oruka Therapeutics has a fifty-two week low of $12.84 and a fifty-two week high of $99.00. The stock’s 50-day simple moving average is $78.73 and its 200-day simple moving average is $57.96. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -49.75 and a beta of -0.35.

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

Insider Buying and Selling

In related news, Director Carl Dambkowski sold 105,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $58.97, for a total value of $6,191,850.00. Following the completion of the sale, the director owned 73,743 shares of the company’s stock, valued at approximately $4,348,624.71. This represents a 58.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Otto Klein sold 1,729 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.69, for a total transaction of $120,494.01. Following the sale, the chief executive officer owned 925,580 shares of the company’s stock, valued at approximately $64,503,670.20. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 188,406 shares of company stock worth $12,019,683 in the last quarter. 23.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in shares of Oruka Therapeutics in the 2nd quarter valued at approximately $28,000. BNP Paribas Financial Markets raised 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 valued at $31,000 after buying an additional 2,306 shares during the period. Royal Bank of Canada lifted its holdings in Oruka Therapeutics by 47.2% in the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Oruka Therapeutics in the fourth quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. acquired a new position in Oruka Therapeutics in the third quarter valued at approximately $39,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

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.