Oruka Therapeutics (NASDAQ:ORKA) Given “Buy” Rating at HC Wainwright

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $120.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 44.07% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. BTIG Research reissued a “buy” rating and issued a $151.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Piper Sandler restated an “overweight” rating and set a $180.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. UBS Group upped their price target on Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Wedbush reiterated an “outperform” rating and set a $165.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.91.

Oruka Therapeutics Stock Up 1.4%

Oruka Therapeutics stock traded up $1.14 on Thursday, hitting $83.29. The company’s stock had a trading volume of 1,535,620 shares, compared to its average volume of 1,103,564. Oruka Therapeutics has a one year low of $18.19 and a one year high of $115.51. The firm has a market cap of $5.51 billion, a P/E ratio of -41.03 and a beta of -0.34. The company has a fifty day moving average price of $96.09 and a 200-day moving average price of $77.10.

Oruka Therapeutics (NASDAQ:ORKA) last issued its earnings results on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Analysts anticipate that Oruka Therapeutics will post -2.42 EPS for the current year.

Insider Transactions at Oruka Therapeutics

In related news, CEO Lawrence Klein sold 75,000 shares of Oruka Therapeutics stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total value of $6,887,250.00. Following the completion of the transaction, the chief executive officer directly owned 925,580 shares of the company’s stock, valued at $84,996,011.40. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Agarwal sold 10,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $106.66, for a total transaction of $1,066,600.00. Following the sale, the senior vice president directly owned 15,312 shares in the company, valued at approximately $1,633,177.92. This represents a 39.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 122,950 shares of company stock valued at $11,528,806 in the last three months. 23.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oruka Therapeutics

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Oruka Therapeutics during the second quarter valued at approximately $474,916,000. Remedium Capital Partners LLC lifted its holdings in Oruka Therapeutics by 0.9% during the 1st quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock worth $76,796,000 after buying an additional 13,247 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of Oruka Therapeutics by 16.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,476,501 shares of the company’s stock valued at $44,753,000 after buying an additional 208,480 shares during the period. Jupiter Topco LLC bought a new stake in shares of Oruka Therapeutics during the second quarter worth $130,968,000. Finally, Avidity Partners Management LP lifted its stake in shares of Oruka Therapeutics by 15.1% during the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock valued at $37,299,000 after acquiring an additional 100,000 shares during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

About Oruka Therapeutics

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company’s approach is designed to extend the duration of treatment and potentially reduce the frequency of dosing for patients with chronic inflammatory conditions.

Oruka’s pipeline includes ORKA-001 and ORKA-002, next-generation monoclonal antibodies targeting interleukin-23 (IL-23), a cytokine involved in several autoimmune and inflammatory diseases.