Oruka Therapeutics (NASDAQ:ORKA) Shares Up 6.6% – Still a Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shot up 6.6% on Tuesday . The company traded as high as $84.97 and last traded at $81.4080. 447,915 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 782,877 shares. The stock had previously closed at $76.39.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ORKA. Guggenheim set a $200.00 price objective on Oruka Therapeutics and gave the company a “buy” rating in a report on Monday. UBS Group increased their price target on Oruka Therapeutics from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a report on Tuesday, April 21st. Stifel Nicolaus increased their price target on Oruka Therapeutics from $47.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, HC Wainwright increased their price target on Oruka Therapeutics from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $120.80.

Oruka Therapeutics Trading Up 0.5%

The stock has a fifty day simple moving average of $49.57 and a two-hundred day simple moving average of $36.87.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.16. Sell-side analysts predict that Oruka Therapeutics, Inc. will post -2.25 earnings per share for the current year.

Insider Transactions at Oruka Therapeutics

In other news, CEO Lawrence Otto Klein sold 1,729 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $41.30, for a total transaction of $71,407.70. Following the transaction, the chief executive officer owned 927,309 shares of the company’s stock, valued at $38,297,861.70. This represents a 0.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joana Goncalves sold 7,641 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $40.91, for a total transaction of $312,593.31. Following the transaction, the insider directly owned 33,377 shares in the company, valued at $1,365,453.07. This trade represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,765 shares of company stock worth $1,089,745 in the last three months. Insiders own 24.69% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ORKA. Viking Global Investors LP bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth about $51,280,000. Paradigm Biocapital Advisors LP bought a new position in shares of Oruka Therapeutics during the 4th quarter worth about $51,840,000. Remedium Capital Partners LLC bought a new position in shares of Oruka Therapeutics during the 4th quarter worth about $47,054,000. Avoro Capital Advisors LLC bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth about $25,640,000. Finally, Deep Track Capital LP boosted its position in shares of 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 purchasing an additional 735,983 shares in the last quarter. 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.