Oruka Therapeutics’ (ORKA) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Oruka Therapeutics (NASDAQ:ORKA) in a report published on Tuesday morning,Benzinga reports. BTIG Research currently has a $151.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Piper Sandler restated an “overweight” rating and set a $180.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of Oruka Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays raised their price target on shares of Oruka Therapeutics from $78.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Ten research analysts have rated the stock with 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 price target of $134.30.

Oruka Therapeutics Stock Performance

Shares of ORKA stock opened at $108.12 on Tuesday. Oruka Therapeutics has a fifty-two week low of $14.08 and a fifty-two week high of $109.42. The stock has a 50 day simple moving average of $86.50 and a two-hundred day simple moving average of $62.27. The company has a market cap of $7.16 billion, a P/E ratio of -53.26 and a beta of -0.34.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). On average, research analysts predict that Oruka Therapeutics will post -2.27 earnings per share for the current year.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $69.28, for a total transaction of $550,568.16. Following the completion of the transaction, the insider owned 32,718 shares in the company, valued at $2,266,703.04. This trade represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, CEO Lawrence Otto Klein sold 1,729 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $69.69, for a total transaction of $120,494.01. Following the sale, the chief executive officer owned 925,580 shares in the company, valued at $64,503,670.20. The trade was a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 181,406 shares of company stock valued at $11,586,733. Corporate insiders own 23.49% of the company’s stock.

Institutional Trading of Oruka Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in Oruka Therapeutics in the 2nd quarter worth about $28,000. BNP Paribas Financial Markets grew its holdings 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 worth $31,000 after purchasing an additional 2,306 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Oruka Therapeutics by 47.2% during the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Oruka Therapeutics in the fourth quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Oruka Therapeutics in the third quarter worth approximately $39,000. 56.44% of the stock is currently owned by institutional investors.

About Oruka Therapeutics

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.