BTIG Research Increases Oruka Therapeutics (NASDAQ:ORKA) Price Target to $73.00

Oruka Therapeutics (NASDAQ:ORKA) had its price objective increased by BTIG Research from $63.00 to $73.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 152.35% from the company’s current price.

Several other research analysts also recently commented on the company. HC Wainwright decreased their price objective on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Piper Sandler assumed coverage on Oruka Therapeutics in a report on Thursday, December 18th. They set an “overweight” rating and a $75.00 price target on the stock. Jefferies Financial Group began coverage on Oruka Therapeutics in a research report on Thursday, November 13th. They set a “buy” rating and a $45.00 target price for the company. Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Guggenheim assumed coverage on shares of Oruka Therapeutics in a research report on Monday, October 27th. They set a “buy” rating and a $60.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Oruka Therapeutics has an average rating of “Moderate Buy” and an average price target of $50.11.

Oruka Therapeutics Stock Performance

Shares of NASDAQ:ORKA traded up $1.07 during midday trading on Monday, reaching $28.93. 166,801 shares of the company’s stock traded hands, compared to its average volume of 470,910. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -15.20 and a beta of -0.39. The stock has a 50 day moving average of $29.14 and a 200 day moving average of $21.46. Oruka Therapeutics has a one year low of $5.49 and a one year high of $32.64.

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

Insider Activity at Oruka Therapeutics

In related news, insider Joana Goncalves sold 7,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.61, for a total value of $214,270.00. Following the completion of the transaction, the insider directly owned 1,518 shares in the company, valued at $46,465.98. The trade was a 82.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORKA. Fairmount Funds Management LLC raised its holdings in Oruka Therapeutics by 9.9% in the 3rd quarter. Fairmount Funds Management LLC now owns 3,705,262 shares of the company’s stock valued at $71,252,000 after acquiring an additional 333,340 shares during the last quarter. Viking Global Investors LP purchased a new position in Oruka Therapeutics in the third quarter valued at $51,280,000. Deep Track Capital LP grew its holdings in Oruka Therapeutics by 38.4% during the 3rd quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock worth $51,051,000 after acquiring an additional 735,983 shares in the last quarter. Commodore Capital LP lifted its stake in Oruka Therapeutics by 23.5% during the third quarter. Commodore Capital LP now owns 1,753,054 shares of the company’s stock worth $33,711,000 after purchasing an additional 333,340 shares during the last quarter. Finally, Avoro Capital Advisors LLC acquired a new stake in shares of Oruka Therapeutics during the third quarter worth about $25,640,000. 56.44% of the stock is 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.