Joana Goncalves Sells 7,947 Shares of Oruka Therapeutics (NASDAQ:ORKA) Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) insider Joana Goncalves sold 7,947 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $69.28, for a total transaction of $550,568.16. Following the completion of the sale, the insider directly owned 32,718 shares of the company’s stock, valued at $2,266,703.04. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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.

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

• On Friday, May 15th, Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock. The stock was sold at an average price of $61.85, for a total transaction of $432,950.00.
• On Wednesday, April 15th, Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock. The shares were sold at an average price of $66.12, for a total transaction of $462,840.00.

Oruka Therapeutics Trading Down 1.5%

Shares of ORKA traded down $1.03 during trading hours on Monday, reaching $68.86. 1,002,319 shares of the stock traded hands, compared to its average volume of 1,071,721. Oruka Therapeutics, Inc. has a 52-week low of $10.77 and a 52-week high of $91.00. The company’s 50-day moving average price is $63.40 and its two-hundred day moving average price is $44.04. The company has a market cap of $4.15 billion, a P/E ratio of -35.49 and a beta of -0.25.

Oruka Therapeutics (NASDAQ:ORKA) last released its earnings results on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.04. On average, research analysts forecast that Oruka Therapeutics, Inc. will post -2.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Tuesday, April 21st. Leerink Partners set a $120.00 target price on shares of Oruka Therapeutics in a research note on Thursday, April 30th. Piper Sandler restated an “overweight” rating and set a $180.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Guggenheim set a $200.00 target price on shares of Oruka Therapeutics and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Wedbush set a $165.00 target price on shares of 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 company’s stock. According to MarketBeat.com, Oruka Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.30.

Institutional Trading of Oruka Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Avidity Partners Management LP lifted its stake in Oruka Therapeutics by 15.1% in the 1st quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock worth $37,299,000 after purchasing an additional 100,000 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Oruka Therapeutics by 11.7% in the 1st quarter. Glenmede Trust Co. NA now owns 21,772 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,287 shares in the last quarter. Remedium Capital Partners LLC lifted its stake in Oruka Therapeutics by 0.9% in the 1st quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock worth $76,796,000 after purchasing an additional 13,247 shares in the last quarter. Royal Bank of Canada lifted its stake in Oruka Therapeutics by 178.5% in the 1st quarter. Royal Bank of Canada now owns 3,172 shares of the company’s stock worth $155,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Rock Springs Capital Management LP purchased a new stake in Oruka Therapeutics in the 1st quarter worth $202,000. 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.