Oruka Therapeutics (NASDAQ:ORKA) Sets New 12-Month High – Time to Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) hit a new 52-week high during trading on Wednesday . The stock traded as high as $99.00 and last traded at $98.99, with a volume of 2596 shares traded. The stock had previously closed at $98.13.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $151.00 target price on shares of Oruka Therapeutics in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Guggenheim set a $200.00 price objective on shares of Oruka Therapeutics and gave the stock a “buy” rating in a report on Monday, April 27th. Barclays raised their price objective on shares of Oruka Therapeutics from $78.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 target price on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.30.

Oruka Therapeutics Stock Up 1.3%

The firm has a market capitalization of $5.94 billion, a P/E ratio of -50.73 and a beta of -0.34. The company has a fifty day simple moving average of $81.78 and a 200 day simple moving average of $59.79.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.04. As a group, equities analysts expect that Oruka Therapeutics, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Activity at Oruka Therapeutics

In other news, Director Carl Dambkowski sold 105,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $58.97, for a total transaction of $6,191,850.00. Following the transaction, the director directly owned 73,743 shares of the company’s stock, valued at approximately $4,348,624.71. This represents a 58.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the firm’s stock in a transaction on 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 owned 32,718 shares of the company’s stock, valued at $2,266,703.04. This trade represents a 19.54% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 188,406 shares of company stock worth $12,019,683 over the last 90 days. Company insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in shares of Oruka Therapeutics during the 2nd quarter worth $28,000. BNP Paribas Financial Markets raised its stake in shares of Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after acquiring an additional 2,306 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Oruka Therapeutics by 47.2% in the 4th quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock valued at $34,000 after buying an additional 365 shares during the period. Los Angeles Capital Management LLC purchased a new position in Oruka Therapeutics in the fourth quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Oruka Therapeutics during the 3rd quarter worth about $39,000. 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.