Oruka Therapeutics (NASDAQ:ORKA) Stock Rating Reaffirmed as "Buy" by BTIG Research

Key Points

• BTIG Research reaffirmed a “Buy” rating on Oruka Therapeutics and set a $151 price target, implying approximately 110% upside from the stock’s $71.93 opening price. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $128.91.
• Oruka’s shares have traded between $25.11 and $115.51 over the past year, while the company reported a quarterly loss of $0.55 per share—$0.04 worse than analysts expected. Analysts project a full-year loss of $2.42 per share.
• Insiders sold $14.1 million of company stock over the past 90 days, including sales by the CEO under a pre-arranged Rule 10b5-1 plan. Institutional investors own 56.44% of Oruka’s shares.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BTIG Research in a research note issued to investors on Monday, Benzinga reports. They currently have a $151.00 price objective on the stock. BTIG Research's target price would indicate a potential upside of 109.93% from the company's current price.

Other analysts have also issued research reports about the company. Wedbush set a $120.00 price target on Oruka Therapeutics in a research note on Thursday, September 24th. Mizuho set a $120.00 price objective on shares of Oruka Therapeutics in a report on Thursday, September 3rd. Wall Street Zen lowered shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. HC Wainwright reiterated a "buy" rating and set a $120.00 price target on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Finally, UBS Group increased their price target on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.91.

Oruka Therapeutics Price Performance

NASDAQ ORKA opened at $71.93 on Monday. Oruka Therapeutics has a 1 year low of $25.11 and a 1 year high of $115.51. The stock has a market capitalization of $4.76 billion, a PE ratio of -35.43 and a beta of -0.37. The business's 50-day moving average is $92.45 and its 200 day moving average is $80.27.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its quarterly 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, equities research analysts anticipate that Oruka Therapeutics will post -2.42 earnings per share for the current year.

Insider Activity

In related news, CEO Lawrence Klein sold 75,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 925,580 shares in the company, valued at $84,996,011.40. This represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total value of $734,143.86. Following the transaction, the insider directly owned 31,771 shares of the company's stock, valued at approximately $2,935,004.98. This trade represents a 20.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 154,950 shares of company stock worth $14,102,680. Insiders own 23.49% of the company's stock.

Institutional Investors Weigh In On Oruka Therapeutics

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Oruka Therapeutics by 201.6% during the third quarter. GAMMA Investing LLC now owns 374 shares of the company's stock valued at $31,000 after acquiring an additional 250 shares in the last quarter. Engineers Gate Manager LP bought a new position in Oruka Therapeutics in the 2nd quarter valued at approximately $350,000. Arizona State Retirement System lifted its position in Oruka Therapeutics by 45.0% in the 2nd quarter. Arizona State Retirement System now owns 8,671 shares of the company's stock valued at $825,000 after acquiring an additional 2,691 shares in the last quarter. Nykredit A S purchased a new stake in Oruka Therapeutics during the 2nd quarter valued at $29,000. Finally, Braidwell LP bought a new stake in shares of Oruka Therapeutics in the 2nd quarter worth $26,473,000. Hedge funds and other institutional investors own 56.44% of the company's stock.

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.