Short Interest in Oruka Therapeutics, Inc. (NASDAQ:ORKA) Rises By 30.8%

Oruka Therapeutics, Inc. (NASDAQ:ORKA) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 7,626,531 shares, an increase of 30.8% from the December 15th total of 5,830,860 shares. Based on an average daily trading volume, of 904,485 shares, the short-interest ratio is presently 8.4 days. Approximately 20.9% of the shares of the stock are short sold. Approximately 20.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 904,485 shares, the short-interest ratio is presently 8.4 days.

Oruka Therapeutics Trading Up 2.8%

NASDAQ ORKA traded up $0.90 on Friday, hitting $33.40. 715,063 shares of the company were exchanged, compared to its average volume of 667,615. Oruka Therapeutics has a 1-year low of $5.49 and a 1-year high of $33.85. The firm has a 50 day moving average of $29.60 and a two-hundred day moving average of $22.11. The company has a market cap of $1.62 billion, a P/E ratio of -17.58 and a beta of -0.39.

Oruka Therapeutics (NASDAQ:ORKA) last announced its earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.01. Research analysts anticipate that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BTIG Research lifted their price objective on Oruka Therapeutics from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, January 12th. Piper Sandler assumed coverage on shares of Oruka Therapeutics in a report on Thursday, December 18th. They set an “overweight” rating and a $75.00 price target for the company. UBS Group assumed coverage on shares of Oruka Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. HC Wainwright dropped their price objective on shares of Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, October 27th. Finally, Barclays started coverage on shares of Oruka Therapeutics in a research note on Monday, October 13th. They issued an “overweight” rating and a $48.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

Insider Activity at Oruka Therapeutics

In related news, insider Joana Goncalves sold 7,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $31.81, for a total value of $222,670.00. Following the sale, the insider owned 1,518 shares of the company’s stock, valued at $48,287.58. The trade was a 82.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORKA. Legal & General Group Plc acquired a new stake in shares of Oruka Therapeutics in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in Oruka Therapeutics in the second quarter valued at about $31,000. BNP Paribas Financial Markets increased its position in Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock worth $31,000 after purchasing an additional 2,306 shares during the period. PNC Financial Services Group Inc. bought a new stake in Oruka Therapeutics during the 3rd quarter worth about $39,000. Finally, Russell Investments Group Ltd. bought a new stake in Oruka Therapeutics during the 3rd quarter worth about $43,000. 56.44% of the stock is currently owned by institutional investors.

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.