Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 8.3% – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded down 8.3% during trading on Monday . The company traded as low as $25.30 and last traded at $25.9220. 145,550 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 274,525 shares. The stock had previously closed at $28.27.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ORKA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Oruka Therapeutics in a research note on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective for the company. Barclays started coverage on shares of Oruka Therapeutics in a research note on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. UBS Group initiated coverage on Oruka Therapeutics in a research report on Wednesday. They set a “buy” rating and a $50.00 price objective for the company. Finally, HC Wainwright reduced their target price on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Oruka Therapeutics Price Performance

The firm’s fifty day moving average price is $29.18 and its two-hundred day moving average price is $21.17. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -14.64 and a beta of -0.39.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.01. On average, equities research analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current year.

Insider Activity

In other news, insider Joana Goncalves sold 7,000 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $30.61, for a total transaction of $214,270.00. Following the completion of the sale, the insider directly owned 1,518 shares of the company’s stock, valued at $46,465.98. The trade was a 82.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ORKA. Legal & General Group Plc bought a new position in Oruka Therapeutics during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Oruka Therapeutics in the second quarter valued at about $31,000. BNP Paribas Financial Markets lifted its position in shares of Oruka Therapeutics by 464.0% during the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after purchasing an additional 2,306 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Oruka Therapeutics during the third quarter worth about $39,000. Finally, Russell Investments Group Ltd. purchased a new position in Oruka Therapeutics during the third quarter worth about $43,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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.