Oruka Therapeutics (NASDAQ:ORKA) Trading Up 11.3% – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares shot up 11.3% during trading on Friday . The company traded as high as $31.48 and last traded at $31.33. 645,592 shares traded hands during trading, an increase of 109% from the average session volume of 309,502 shares. The stock had previously closed at $28.15.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ORKA. Barclays began coverage on shares of Oruka Therapeutics in a report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. Piper Sandler assumed coverage on Oruka Therapeutics in a report on Thursday. They set an “overweight” rating and a $75.00 price target on the stock. Jefferies Financial Group started coverage on Oruka Therapeutics in a report on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective for the company. BTIG Research lifted their target price on Oruka Therapeutics from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Wall Street Zen cut Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $48.88.

Oruka Therapeutics Stock Up 13.2%

The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -16.77 and a beta of -0.41. The business has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $19.38.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.01. On average, analysts forecast that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

Institutional Trading of Oruka Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC lifted its holdings in shares of Oruka Therapeutics by 10.7% during the second quarter. Affinity Asset Advisors LLC now owns 603,479 shares of the company’s stock valued at $6,765,000 after purchasing an additional 58,117 shares during the last quarter. Geode Capital Management LLC increased its stake in Oruka Therapeutics by 100.6% in the 2nd quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock worth $7,932,000 after purchasing an additional 354,821 shares in the last quarter. B Group Inc. lifted its stake in Oruka Therapeutics by 28.8% during the second quarter. B Group Inc. now owns 75,000 shares of the company’s stock valued at $841,000 after buying an additional 16,785 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Oruka Therapeutics by 40.6% in the second quarter. Franklin Resources Inc. now owns 1,012,968 shares of the company’s stock worth $11,355,000 after buying an additional 292,421 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Oruka Therapeutics in the first quarter worth approximately $1,362,000. 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.