HC Wainwright Reiterates "Buy" Rating for Oruka Therapeutics (NASDAQ:ORKA)

Key Points

• HC Wainwright reiterated a “Buy” rating on Oruka Therapeutics and set a $120 price target, implying approximately 31% upside from the stock’s $91.63 opening price. Analysts overall maintain a “Moderate Buy” consensus with an average target of $134.30.
• Oruka reported a quarterly loss of $0.55 per share, missing consensus estimates by $0.04; analysts expect a full-year loss of $2.33 per share.
• Insiders sold 158,116 shares worth $13.5 million over the past 90 days, while institutional investors and hedge funds own 56.44% of the company.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $120.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 30.96% from the company's current price.

Other research analysts have also recently issued reports about the company. Piper Sandler restated an "overweight" rating and set a $180.00 target price on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. BTIG Research reiterated a "buy" rating and set a $151.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Wall Street Zen lowered Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Guggenheim restated a "buy" rating and issued a $200.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, UBS Group raised their target price on Oruka Therapeutics from $100.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $134.30.

Oruka Therapeutics Stock Down 0.5%

Shares of ORKA opened at $91.63 on Thursday. Oruka Therapeutics has a 52-week low of $14.66 and a 52-week high of $115.51. The firm's fifty day moving average is $95.11 and its two-hundred day moving average is $69.01. The stock has a market cap of $6.07 billion, a PE ratio of -45.14 and a beta of -0.34.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.04). As a group, research analysts anticipate that Oruka Therapeutics will post -2.33 earnings per share for the current year.

Insiders Place Their Bets

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.84, for a total value of $782,880.00. Following the transaction, the insider owned 32,718 shares of the company's stock, valued at $3,659,181.12. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the senior vice president directly owned 15,312 shares of the company's stock, valued at approximately $1,633,177.92. This trade represents a 39.51% 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 a total of 158,116 shares of company stock valued at $13,523,783 over the last 90 days. Company insiders own 23.49% of the company's stock.

Hedge Funds Weigh In On Oruka Therapeutics

Several large investors have recently made changes to their positions in ORKA. Goldman Sachs Group Inc. purchased a new position in shares of Oruka Therapeutics during the 1st quarter worth approximately $2,505,000. JPMorgan Chase & Co. raised its position in Oruka Therapeutics by 567.7% in the second quarter. JPMorgan Chase & Co. now owns 15,425 shares of the company's stock valued at $173,000 after purchasing an additional 13,115 shares during the period. Legal & General Group Plc acquired a new position in Oruka Therapeutics during the second quarter worth $28,000. Rhumbline Advisers acquired a new position in Oruka Therapeutics during the second quarter worth $320,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Oruka Therapeutics during the second quarter worth $96,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source