Oruka Therapeutics (NASDAQ:ORKA) Stock Rating Reaffirmed as “Buy” by BTIG Research

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a note issued to investors on Monday, Benzinga reports. They currently have a $151.00 target price on the stock. BTIG Research‘s price objective would suggest a potential upside of 90.92% from the company’s previous close.

ORKA has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating on shares of Oruka Therapeutics in a research report on Wednesday, October 7th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Wall Street Zen lowered shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Guggenheim reiterated a “buy” rating and issued a $200.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Finally, Wedbush set a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.91.

Oruka Therapeutics Stock Up 6.2%

ORKA stock opened at $79.09 on Monday. The company’s 50-day simple moving average is $91.32 and its 200-day simple moving average is $80.65. Oruka Therapeutics has a 52-week low of $25.11 and a 52-week high of $115.51. The firm has a market cap of $5.24 billion, a P/E ratio of -38.96 and a beta of -0.37.

Oruka Therapeutics (NASDAQ:ORKA) last announced its earnings results on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, analysts anticipate that Oruka Therapeutics will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joana Goncalves sold 7,947 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total transaction of $734,143.86. Following the transaction, the insider directly owned 31,771 shares in the company, valued at approximately $2,935,004.98. The trade was a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Klein sold 75,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total transaction of $6,887,250.00. Following the transaction, the chief executive officer owned 925,580 shares in the company, valued at $84,996,011.40. The trade was a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 154,950 shares of company stock worth $14,102,680. 23.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ORKA. BlackRock Inc. acquired a new position in Oruka Therapeutics during the second quarter worth about $474,916,000. Jupiter Topco LLC acquired a new position in Oruka Therapeutics during the second quarter worth about $130,968,000. Bank of America Corp DE acquired a new position in Oruka Therapeutics during the second quarter worth about $33,578,000. Braidwell LP acquired a new position in Oruka Therapeutics during the second quarter worth about $26,473,000. Finally, Atika Capital Management LLC acquired a new position in Oruka Therapeutics during the first quarter worth about $11,277,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company is focused on creating treatments that may provide durable disease control while reducing the frequency of administration compared with conventional biologic therapies.

Oruka’s pipeline is centered on engineered monoclonal antibodies that target the interleukin-17 (IL-17) pathway, an important driver of inflammation in conditions such as psoriasis and other autoimmune diseases.