Oruka Therapeutics, Inc. (NASDAQ:ORKA) Sees Large Decrease in Short Interest

Oruka Therapeutics, Inc. (NASDAQ:ORKA) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 4,062,540 shares, a decline of 17.2% from the January 29th total of 4,908,187 shares. Currently, 11.1% of the company’s stock are short sold. Based on an average daily trading volume, of 353,438 shares, the short-interest ratio is currently 11.5 days. Based on an average daily trading volume, of 353,438 shares, the short-interest ratio is currently 11.5 days. Currently, 11.1% of the company’s stock are short sold.

Insider Transactions at Oruka Therapeutics

In related news, insider Joana Goncalves sold 7,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $32.37, for a total value of $226,590.00. Following the completion of the sale, the insider directly owned 34,018 shares of the company’s stock, valued at approximately $1,101,162.66. This represents a 17.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 21,000 shares of company stock valued at $663,530. 24.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairmount Funds Management LLC boosted its position in Oruka Therapeutics by 9.9% during the third quarter. Fairmount Funds Management LLC now owns 3,705,262 shares of the company’s stock worth $71,252,000 after purchasing an additional 333,340 shares during the period. Viking Global Investors LP bought a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $51,280,000. Deep Track Capital LP grew its stake in Oruka Therapeutics by 38.4% in the 3rd quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock valued at $51,051,000 after buying an additional 735,983 shares during the last quarter. Vanguard Group Inc. grew its stake in Oruka Therapeutics by 38.1% in the 4th quarter. Vanguard Group Inc. now owns 2,453,530 shares of the company’s stock valued at $74,366,000 after buying an additional 676,865 shares during the last quarter. Finally, RTW Investments LP raised its holdings in Oruka Therapeutics by 5.8% in the 4th quarter. RTW Investments LP now owns 2,058,148 shares of the company’s stock worth $62,382,000 after acquiring an additional 112,499 shares during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Oruka Therapeutics Trading Up 6.5%

Oruka Therapeutics stock traded up $2.15 during mid-day trading on Wednesday, hitting $34.99. 500,055 shares of the company’s stock were exchanged, compared to its average volume of 427,744. Oruka Therapeutics has a 1-year low of $5.49 and a 1-year high of $36.53. The stock has a 50 day moving average of $32.31 and a two-hundred day moving average of $26.58. The stock has a market cap of $1.69 billion, a P/E ratio of -18.42 and a beta of -0.38.

Analyst Upgrades and Downgrades

ORKA has been the subject of a number of research analyst reports. Piper Sandler assumed coverage on shares of Oruka Therapeutics in a research report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Oruka Therapeutics in a research note on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective on the stock. BTIG Research increased their target price on shares of Oruka Therapeutics from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. UBS Group initiated coverage on shares of Oruka Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Wall Street Zen upgraded Oruka Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Eight investment 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, Oruka Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.