Oruka Therapeutics (NASDAQ:ORKA) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Oruka Therapeutics (NASDAQ:ORKA) from a sell rating to a hold rating in a report published on Saturday morning.

Several other brokerages also recently issued reports on ORKA. BTIG Research reaffirmed a “buy” rating and issued a $151.00 price target on shares of Oruka Therapeutics in a report on Monday, July 13th. UBS Group raised their price objective on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Oruka Therapeutics in a research report on Monday, August 3rd. Guggenheim set a $200.00 target price on Oruka Therapeutics and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Leerink Partners set a $120.00 target price on Oruka Therapeutics in a report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.30.

Oruka Therapeutics Stock Up 0.4%

Oruka Therapeutics stock opened at $98.82 on Friday. Oruka Therapeutics has a 52 week low of $12.84 and a 52 week high of $100.34. The firm’s 50-day simple moving average is $82.59 and its 200 day simple moving average is $60.06. The firm has a market capitalization of $5.96 billion, a PE ratio of -50.94 and a beta of -0.34.

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

Insider Activity

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 10,290 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $59.07, for a total value of $607,830.30. Following the transaction, the senior vice president directly owned 16,406 shares in the company, valued at approximately $969,102.42. This represents a 38.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Otto Klein sold 1,729 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.69, for a total transaction of $120,494.01. Following the sale, the chief executive officer directly owned 925,580 shares in the company, valued at $64,503,670.20. This represents 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. Insiders have sold a total of 188,406 shares of company stock valued at $12,019,683 in the last 90 days. Company insiders own 23.49% of the company’s stock.

Institutional Trading of Oruka Therapeutics

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in Oruka Therapeutics in the 1st quarter worth approximately $2,505,000. JPMorgan Chase & Co. raised its holdings in Oruka Therapeutics by 567.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,425 shares of the company’s stock valued at $173,000 after acquiring an additional 13,115 shares during the last quarter. Legal & General Group Plc acquired a new position in Oruka Therapeutics in the 2nd quarter valued at $28,000. Rhumbline Advisers purchased a new position in shares of Oruka Therapeutics during the 2nd quarter worth $320,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Oruka Therapeutics during the 2nd quarter worth $96,000. Institutional investors and hedge funds 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.