Oruka Therapeutics (NASDAQ:ORKA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oruka Therapeutics (NASDAQ:ORKA) from a sell rating to a hold rating in a research report released on Monday.

ORKA has been the topic of a number of other reports. UBS Group initiated coverage on Oruka Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Thursday, January 22nd. Barclays raised their target price on shares of Oruka Therapeutics from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oruka Therapeutics in a report on Friday, March 13th. Finally, Piper Sandler started coverage on shares of Oruka Therapeutics in a research report on Thursday, December 18th. They set an “overweight” rating and a $75.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.60.

Oruka Therapeutics Trading Down 1.2%

Shares of NASDAQ:ORKA opened at $40.80 on Monday. The company has a 50 day moving average of $33.77 and a 200 day moving average of $28.14. The stock has a market cap of $2.02 billion, a P/E ratio of -21.94 and a beta of -0.38. Oruka Therapeutics has a 12 month low of $5.49 and a 12 month high of $42.88.

Oruka Therapeutics (NASDAQ:ORKA) last announced its earnings results on Thursday, March 12th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.16. On average, equities analysts forecast that Oruka Therapeutics will post -3.41 earnings per share for the current fiscal year.

Insider Activity

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,641 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $40.91, for a total value of $312,593.31. Following the sale, the insider directly owned 33,377 shares of the company’s stock, valued at approximately $1,365,453.07. The trade was a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lawrence Otto Klein sold 1,729 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $41.30, for a total value of $71,407.70. Following the completion of the sale, the chief executive officer directly owned 927,309 shares in the company, valued at approximately $38,297,861.70. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,765 shares of company stock valued at $1,063,845. 24.69% of the stock is owned by company insiders.

Institutional Trading of Oruka Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ORKA. Caitong International Asset Management Co. Ltd purchased a new stake in Oruka Therapeutics during the 4th quarter valued at $67,000. Seven Fleet Capital Management LP purchased a new position in shares of Oruka Therapeutics in the 4th quarter worth $159,000. Invesco Ltd. boosted its stake in shares of Oruka Therapeutics by 777.1% in the 4th quarter. Invesco Ltd. now owns 143,121 shares of the company’s stock worth $4,338,000 after buying an additional 126,803 shares during the last quarter. Virtus Investment Advisers LLC bought a new stake in shares of Oruka Therapeutics in the fourth quarter worth $267,000. Finally, RTW Investments LP increased its position in Oruka Therapeutics by 5.8% during the fourth quarter. RTW Investments LP now owns 2,058,148 shares of the company’s stock valued at $62,382,000 after acquiring an additional 112,499 shares during the last quarter. Institutional investors own 56.44% of the company’s stock.

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.