Oruka Therapeutics (NASDAQ:ORKA) Price Target Raised to $78.00 at BTIG Research

Key Points

• BTIG raised its price target to $78 (from $73) and kept a "buy" rating, implying about a 30.92% upside
• Shares opened at $59.58 with a market cap of $2.95 billion, a 12‑month range of $7.14–$64.61, a negative P/E, and Oruka reported a quarterly EPS of ($0.45) that beat estimates of ($0.61).
• Insider selling occurred on March 16 (CEO and another insider), with 23,765 shares sold in the past 90 days; insiders own 24.69% of the stock while institutional investors hold about 56.44%, including notable stake increases by Invesco and RTW.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) had its price target lifted by investment analysts at BTIG Research from $73.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's target price points to a potential upside of 30.92% from the company's current price.

Several other equities analysts have also commented on the company. Wall Street Zen raised Oruka Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 16th. Leerink Partners upped their price target on Oruka Therapeutics from $58.00 to $86.00 and gave the stock an "outperform" rating in a report on Monday, March 16th. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Oruka Therapeutics in a report on Friday, March 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Oruka Therapeutics in a report on Thursday, January 22nd. Finally, Barclays upped their price target on Oruka Therapeutics from $50.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.40.

Oruka Therapeutics Stock Performance

Shares of NASDAQ ORKA opened at $59.58 on Monday. The stock has a fifty day moving average price of $39.53 and a 200 day moving average price of $32.31. Oruka Therapeutics has a 12-month low of $7.14 and a 12-month high of $64.61. The company has a market cap of $2.95 billion, a P/E ratio of -32.03 and a beta of -0.54.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.61) by $0.16. On average, sell-side analysts forecast that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lawrence Otto Klein sold 1,729 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $41.30, for a total transaction of $71,407.70. Following the completion of the sale, the chief executive officer owned 927,309 shares of the company's stock, valued at approximately $38,297,861.70. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joana Goncalves sold 7,641 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $40.91, for a total transaction of $312,593.31. Following the completion of the sale, the insider directly owned 33,377 shares in the company, valued at $1,365,453.07. This represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,765 shares of company stock valued at $849,575. 24.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORKA. Caitong International Asset Management Co. Ltd bought a new stake in shares of Oruka Therapeutics in the 4th quarter worth about $67,000. Seven Fleet Capital Management LP bought a new position in shares of Oruka Therapeutics during the fourth quarter worth about $159,000. Invesco Ltd. grew its stake in Oruka Therapeutics by 777.1% in the fourth quarter. Invesco Ltd. now owns 143,121 shares of the company's stock worth $4,338,000 after purchasing an additional 126,803 shares in the last quarter. Virtus Investment Advisers LLC bought a new stake in Oruka Therapeutics in the fourth quarter valued at about $267,000. Finally, RTW Investments LP raised its stake in Oruka Therapeutics by 5.8% during the fourth quarter. RTW Investments LP now owns 2,058,148 shares of the company's stock valued at $62,382,000 after buying an additional 112,499 shares in the last quarter. 56.44% of the stock is 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.

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