Oruka Therapeutics’ (ORKA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Oruka Therapeutics (NASDAQ:ORKA) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $120.00 price target on the stock.

ORKA has been the subject of a number of other reports. Leerink Partners set a $120.00 price target on shares of Oruka Therapeutics in a research note on Thursday, April 30th. Guggenheim set a $200.00 price objective on shares of Oruka Therapeutics and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen cut Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. BTIG Research restated a “buy” rating and issued a $151.00 target price on shares of Oruka Therapeutics in a research report on Monday, July 13th. Finally, Wedbush set a $165.00 price target on Oruka Therapeutics in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.30.

Oruka Therapeutics Stock Performance

Shares of ORKA opened at $97.19 on Monday. Oruka Therapeutics has a one year low of $12.84 and a one year high of $99.80. The stock’s fifty day moving average is $80.98 and its 200-day moving average is $59.33. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -50.10 and a beta of -0.34.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.04. Analysts forecast that Oruka Therapeutics will post -2.06 EPS for the current fiscal year.

Insider Buying and Selling at Oruka Therapeutics

In related news, SVP Arjun Agarwal sold 9,999 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $84.63, for a total value of $846,215.37. Following the completion of the transaction, the senior vice president owned 15,312 shares in the company, valued at $1,295,854.56. This trade represents a 39.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of Oruka Therapeutics stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.28, for a total value of $550,568.16. Following the completion of the transaction, the insider directly owned 32,718 shares in the company, valued at $2,266,703.04. This represents a 19.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 188,406 shares of company stock valued at $12,019,683 in the last ninety days. Company insiders own 23.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Viking Global Investors LP acquired a new position in Oruka Therapeutics in the 3rd quarter worth approximately $51,280,000. Deep Track Capital LP grew its position 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 purchasing an additional 735,983 shares in the last quarter. Vanguard Group Inc. raised its stake in Oruka Therapeutics by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 2,453,530 shares of the company’s stock valued at $74,366,000 after purchasing an additional 676,865 shares during the period. RTW Investments LP raised its stake in Oruka Therapeutics by 5.8% during the 4th quarter. RTW Investments LP now owns 2,058,148 shares of the company’s stock valued at $62,382,000 after purchasing an additional 112,499 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new stake in shares of Oruka Therapeutics in the fourth quarter valued at $51,840,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.