Oruka Therapeutics (NASDAQ:ORKA) Shares Down 7.4% – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price fell 7.4% during trading on Wednesday . The stock traded as low as $88.38 and last traded at $87.5710. Approximately 436,560 shares changed hands during trading, a decline of 60% from the average session volume of 1,093,720 shares. The stock had previously closed at $94.55.

Wall Street Analysts Forecast Growth

ORKA has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $151.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Guggenheim reaffirmed a “buy” rating and issued a $200.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Weiss Ratings upgraded Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Wedbush restated an “outperform” rating and set a $165.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, September 3rd. Ten equities 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Oruka Therapeutics Stock Down 6.4%

The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -43.60 and a beta of -0.34. The business has a 50-day moving average of $96.72 and a two-hundred day moving average of $74.92.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Equities analysts predict that Oruka Therapeutics, Inc. will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 533 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $95.75, for a total value of $51,034.75. Following the sale, the senior vice president owned 14,219 shares of the company’s stock, valued at $1,361,469.25. The trade was a 3.61% decrease in their position. The sale 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. Also, insider Joana Goncalves sold 7,947 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total transaction of $734,143.86. Following the completion of the transaction, the insider owned 31,771 shares of the company’s stock, valued at approximately $2,935,004.98. This represents a 20.01% 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 have sold 122,950 shares of company stock worth $11,528,806 over the last 90 days. Corporate insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Algert Global LLC lifted its holdings in shares of Oruka Therapeutics by 3.5% during the second quarter. Algert Global LLC now owns 5,380 shares of the company’s stock valued at $512,000 after acquiring an additional 180 shares during the period. Nykredit A S bought a new position in Oruka Therapeutics during the 2nd quarter valued at about $29,000. AlphaCentric Advisors LLC lifted its holdings in Oruka Therapeutics by 5.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 11,506 shares of the company’s stock valued at $564,000 after purchasing an additional 626 shares during the last quarter. Orion Capital Management LLC acquired a new position in Oruka Therapeutics in the second quarter valued at about $91,000. Finally, PNC Financial Services Group Inc. boosted its position in Oruka Therapeutics by 119.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,186 shares of the company’s stock valued at $156,000 after buying an additional 1,736 shares in the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc (NASDAQ:ORKA) is a clinical-stage biotechnology company developing long-acting monoclonal antibody therapies for immune-mediated diseases. The company’s research is focused on creating medicines that may allow less frequent dosing than existing biologic treatments.

Oruka’s initial development programs are aimed at inflammatory conditions, including psoriasis. Its pipeline includes engineered antibody candidates designed to target important immune pathways, including interleukin-23 and interleukin-17.