BTIG Research Reiterates "Buy" Rating for Oruka Therapeutics (NASDAQ:ORKA)

Key Points

• BTIG Research reiterated a Buy rating on Oruka Therapeutics and set a $151 price target, implying about 74% upside from the prior close. Other analysts are also mostly bullish, with the stock carrying an average Moderate Buy rating and a $134.30 average target.
• Oruka reported a smaller-than-expected quarterly loss, posting EPS of -$0.48 versus the consensus estimate of -$0.52. The company’s lead candidate, ONCT-01, is in Phase 1 trials for advanced solid tumors.
• Shares opened at $86.79, near the stock’s 52-week high of $97.78, while insiders have been selling shares recently, including SVP Arjun Agarwal and Director Carl Dambkowski. Despite the insider sales, institutional ownership remains high at 56.44%.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "buy" rating reissued by analysts at BTIG Research in a report released on Monday,Benzinga reports. They presently have a $151.00 price objective on the stock. BTIG Research's price target suggests a potential upside of 73.98% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reissued an "overweight" rating and set a $180.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Wedbush set a $165.00 target price on Oruka Therapeutics in a report on Monday, April 27th. Wall Street Zen downgraded Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Guggenheim set a $200.00 price target on Oruka Therapeutics and gave the company a "buy" rating in a report on Monday, April 27th. Finally, UBS Group lifted their price target on Oruka Therapeutics from $100.00 to $130.00 and gave the stock a "buy" rating in a research report 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.30.

Oruka Therapeutics Stock Performance

Shares of Oruka Therapeutics stock opened at $86.79 on Monday. Oruka Therapeutics has a 12-month low of $12.84 and a 12-month high of $97.78. The company has a market cap of $5.23 billion, a P/E ratio of -44.74 and a beta of -0.35. The company's fifty day simple moving average is $70.54 and its two-hundred day simple moving average is $51.50.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.04. Analysts predict that Oruka Therapeutics will post -2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 10,290 shares of Oruka Therapeutics stock in a transaction on Monday, May 18th. The stock was sold at an average price of $59.07, for a total value 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 approximately $969,102.42. This trade represents a 38.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Dambkowski sold 105,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $58.97, for a total value of $6,191,850.00. Following the completion of the transaction, the director owned 73,743 shares of the company's stock, valued at $4,348,624.71. This represents a 58.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 185,407 shares of company stock valued at $11,636,307. Insiders own 23.49% of the company's stock.

Hedge Funds Weigh In On Oruka Therapeutics

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at about $28,000. BNP Paribas Financial Markets lifted its position in Oruka Therapeutics by 464.0% during the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock valued at $31,000 after purchasing an additional 2,306 shares during the period. Royal Bank of Canada lifted its position in Oruka Therapeutics by 47.2% during the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company's stock valued at $34,000 after purchasing an additional 365 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Oruka Therapeutics in the fourth quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. bought a new stake in Oruka Therapeutics in the 3rd quarter worth approximately $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.

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