Oruka Therapeutics (NASDAQ:ORKA) Stock Price Up 9.5% – Should You Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price rose 9.5% during trading on Thursday . The stock traded as high as $61.88 and last traded at $62.6320. Approximately 376,265 shares changed hands during trading, a decline of 64% from the average daily volume of 1,055,575 shares. The stock had previously closed at $57.20.

Wall Street Analysts Forecast Growth

ORKA has been the subject of several research reports. HC Wainwright reiterated a “buy” rating on shares of Oruka Therapeutics in a research note on Wednesday. Leerink Partners set a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, April 30th. Stifel Nicolaus boosted their target price on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 13th. UBS Group boosted their target price on shares of Oruka Therapeutics from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler restated an “overweight” rating and set a $180.00 target price on shares of Oruka Therapeutics in a research report on Tuesday. 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, Oruka Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $131.30.

Oruka Therapeutics Price Performance

The business’s fifty day simple moving average is $61.43 and its two-hundred day simple moving average is $42.59. The company has a market cap of $3.63 billion, a PE ratio of -31.00 and a beta of -0.26.

Oruka Therapeutics (NASDAQ:ORKA) last released its earnings results on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04. As a group, analysts predict that Oruka Therapeutics, Inc. will post -2.06 EPS for the current year.

Insider Activity at Oruka Therapeutics

In other news, SVP Arjun Agarwal sold 10,290 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $59.07, for a total transaction of $607,830.30. Following the completion of the sale, the senior vice president owned 16,406 shares of the company’s stock, valued at $969,102.42. The trade was a 38.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $61.85, for a total transaction of $432,950.00. Following the sale, the insider directly owned 33,377 shares of the company’s stock, valued at $2,064,367.45. This represents a 17.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 139,055 shares of company stock worth $8,095,785 over the last three months. Company insiders own 23.49% of the company’s stock.

Institutional Trading of Oruka Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ORKA. Legal & General Group Plc purchased a new stake in shares of Oruka Therapeutics during the second quarter worth about $28,000. BNP Paribas Financial Markets increased its stake in shares of Oruka Therapeutics by 464.0% during 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 in the last quarter. Royal Bank of Canada increased its stake in shares of Oruka Therapeutics by 47.2% during the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Oruka Therapeutics during the fourth quarter worth about $37,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Oruka Therapeutics during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors 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.