Oruka Therapeutics (NASDAQ:ORKA) Given "Buy" Rating at BTIG Research

Key Points

• BTIG Research reiterated a “Buy” rating on Oruka Therapeutics with a $151 price target, implying 43.62% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $134.30.
• ORKA shares rose 6.4% to open at $105.14, near their 52-week high of $105.31; the stock has a market capitalization of approximately $6.34 billion.
• Oruka reported a quarterly loss of $0.55 per share, missing the $0.51 consensus estimate. Insiders sold 188,406 shares worth about $12.0 million during the latest quarter, while institutional investors own 56.44% of the company.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "buy" rating reissued by BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $151.00 price objective on the stock. BTIG Research's price objective suggests a potential upside of 43.62% from the stock's previous close.

ORKA has been the topic of several other research reports. Leerink Partners set a $120.00 target price on Oruka Therapeutics in a report on Thursday, April 30th. Wedbush set a $165.00 price objective on Oruka Therapeutics in a research note on Monday, April 27th. Piper Sandler restated an "overweight" rating and issued a $180.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. Barclays raised their target price on Oruka Therapeutics from $78.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Finally, Guggenheim set a $200.00 target price on Oruka Therapeutics and gave the stock a "buy" rating in a report on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $134.30.

Oruka Therapeutics Stock Up 6.4%

ORKA stock opened at $105.14 on Tuesday. The company has a market capitalization of $6.34 billion, a P/E ratio of -54.20 and a beta of -0.34. The company has a 50-day simple moving average of $83.59 and a 200 day simple moving average of $60.75. Oruka Therapeutics has a fifty-two week low of $12.84 and a fifty-two week high of $105.31.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Equities analysts anticipate that Oruka Therapeutics will post -2.06 EPS for the current year.

Insider Buying and Selling

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $69.28, for a total transaction of $550,568.16. Following the sale, the insider directly owned 32,718 shares of the company's stock, valued at $2,266,703.04. The trade was a 19.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, Director Carl Dambkowski sold 12,583 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $70.11, for a total transaction of $882,194.13. Following the transaction, the director directly owned 38,743 shares in the company, valued at $2,716,271.73. The trade was a 24.52% decrease in their ownership of the stock. 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 have sold a total of 188,406 shares of company stock worth $12,019,683 in the last quarter. 23.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC acquired a new position in Oruka Therapeutics during the fourth quarter valued at approximately $3,844,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oruka Therapeutics during the first quarter worth approximately $1,811,000. SG Americas Securities LLC acquired a new position in Oruka Therapeutics in the 4th quarter valued at $251,000. Perceptive Advisors LLC boosted its position in shares of Oruka Therapeutics by 16.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,476,501 shares of the company's stock valued at $44,753,000 after acquiring an additional 208,480 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Oruka Therapeutics by 18.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 72,563 shares of the company's stock worth $3,559,000 after purchasing an additional 11,205 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

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.

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