Oruka Therapeutics (NASDAQ:ORKA) Posts Earnings Results, Beats Estimates By $0.16 EPS

Oruka Therapeutics (NASDAQ:ORKA) announced its quarterly earnings results on Thursday. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.16, FiscalAI reports.

Oruka Therapeutics Stock Down 7.0%

Shares of NASDAQ ORKA traded down $2.42 during trading on Thursday, reaching $31.99. The company had a trading volume of 394,446 shares, compared to its average volume of 421,182. Oruka Therapeutics has a 12-month low of $5.49 and a 12-month high of $36.53. The stock has a market cap of $1.55 billion, a PE ratio of -16.84 and a beta of -0.38. The business’s 50-day moving average is $32.65 and its 200 day moving average is $27.29.

Analyst Ratings Changes

A number of research firms recently issued reports on ORKA. Wedbush increased their price target on shares of Oruka Therapeutics from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Piper Sandler began coverage on shares of Oruka Therapeutics in a research report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 target price on the stock. BTIG Research lifted their price target on shares of Oruka Therapeutics from $63.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Jefferies Financial Group initiated coverage on shares of Oruka Therapeutics in a research note on Thursday, November 13th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Wall Street Zen cut shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Oruka Therapeutics has an average rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity

In other news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics 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 transaction, the insider owned 34,018 shares of the company’s stock, valued at $1,101,162.66. The trade was a 17.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 21,000 shares of company stock valued at $663,530. 24.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORKA. Viking Global Investors LP bought a new position in shares of Oruka Therapeutics in the third quarter worth approximately $51,280,000. Deep Track Capital LP raised its holdings 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 worth $51,051,000 after acquiring an additional 735,983 shares during the last quarter. 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 last quarter. Paradigm Biocapital Advisors LP bought a new position in Oruka Therapeutics in the 4th quarter valued at approximately $51,840,000. Finally, Remedium Capital Partners LLC purchased a new stake in Oruka Therapeutics during the 4th quarter valued at $47,054,000. 56.44% of the stock is owned by hedge funds and other 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.