Insider Selling: Oruka Therapeutics (NASDAQ:ORKA) Insider Sells $312,593.31 in Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) insider Joana Goncalves sold 7,641 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were 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 of the company’s stock, valued at approximately $1,365,453.07. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Joana Goncalves also recently made the following trade(s):

• On Tuesday, February 17th, Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock. The stock was sold at an average price of $32.37, for a total transaction of $226,590.00.
• On Thursday, January 15th, Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock. The stock was sold at an average price of $31.81, for a total value of $222,670.00.
• On Friday, December 19th, Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock. The shares were sold at an average price of $30.61, for a total value of $214,270.00.

Oruka Therapeutics Price Performance

ORKA opened at $38.82 on Friday. The business has a 50 day simple moving average of $34.02 and a two-hundred day simple moving average of $28.21. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -20.87 and a beta of -0.38. Oruka Therapeutics, Inc. has a one year low of $5.49 and a one year high of $42.88.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.16. As a group, sell-side analysts expect that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

Several large investors have recently made changes to their positions in the business. Viking Global Investors LP purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter worth approximately $51,280,000. Paradigm Biocapital Advisors LP bought a new position in Oruka Therapeutics during the 4th quarter valued at approximately $51,840,000. Remedium Capital Partners LLC purchased a new position in Oruka Therapeutics during the fourth quarter valued at $47,054,000. Avoro Capital Advisors LLC bought a new stake in Oruka Therapeutics in the third quarter worth $25,640,000. Finally, Deep Track Capital LP boosted its holdings in Oruka Therapeutics by 38.4% in the third 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. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORKA has been the topic of several recent analyst reports. UBS Group began coverage on shares of Oruka Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Piper Sandler began coverage on shares of Oruka Therapeutics in a report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Oruka Therapeutics in a research report on Friday, March 13th. Stifel Nicolaus lifted their target price on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.60.

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.