Oruka Therapeutics (NASDAQ:ORKA) Shares Up 11.2% – Here’s What Happened

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded up 11.2% during trading on Monday. The stock traded as high as $88.68 and last traded at $89.1520. 133,034 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,077,736 shares. The stock had previously closed at $80.15.

Analyst Ratings Changes

Several brokerages recently issued reports on ORKA. HC Wainwright reissued a “buy” rating on shares of Oruka Therapeutics in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating on shares of Oruka Therapeutics in a report on Wednesday, October 7th. BTIG Research reaffirmed a “buy” rating and set a $151.00 price target on shares of Oruka Therapeutics in a research report on Monday, October 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Tuesday, October 13th. Finally, Wedbush reissued an “outperform” rating and issued a $165.00 price objective on shares of Oruka Therapeutics in a report on Tuesday. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.00.

Oruka Therapeutics Stock Performance

The business’s 50 day moving average price is $89.24 and its 200 day moving average price is $67.88.

Oruka Therapeutics (NASDAQ:ORKA) last posted its earnings results 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). Research analysts forecast that Oruka Therapeutics, Inc. will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Oruka Therapeutics

In other Oruka Therapeutics news, CEO Lawrence Klein sold 75,000 shares of Oruka Therapeutics stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $91.83, for a total value of $6,887,250.00. Following the completion of the transaction, the chief executive officer owned 925,580 shares of the company’s stock, valued at approximately $84,996,011.40. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Agarwal sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $106.66, for a total transaction of $1,066,600.00. Following the completion of the transaction, the senior vice president owned 15,312 shares of the company’s stock, valued at approximately $1,633,177.92. This trade represents a 39.51% 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. Over the last quarter, insiders sold 154,950 shares of company stock valued at $14,102,680. Corporate insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Oruka Therapeutics during the second quarter worth approximately $474,916,000. Jupiter Topco LLC acquired a new position in shares of Oruka Therapeutics during the 2nd quarter worth approximately $130,968,000. Bank of America Corp DE purchased a new position in shares of Oruka Therapeutics during the 2nd quarter valued at approximately $33,578,000. Braidwell LP purchased a new position in shares of Oruka Therapeutics during the 2nd quarter valued at approximately $26,473,000. Finally, Atika Capital Management LLC purchased a new position in shares of Oruka Therapeutics during the 1st quarter valued at approximately $11,277,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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 is focused on creating treatments that may provide durable disease control while reducing the frequency of administration compared with conventional biologic therapies.

Oruka’s pipeline is centered on engineered monoclonal antibodies that target the interleukin-17 (IL-17) pathway, an important driver of inflammation in conditions such as psoriasis and other autoimmune diseases.