Oruka Therapeutics (NASDAQ:ORKA) Sets New 1-Year High – Still a Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price reached a new 52-week high on Monday . The stock traded as high as $32.31 and last traded at $32.3350, with a volume of 385776 shares traded. The stock had previously closed at $31.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ORKA shares. Piper Sandler initiated coverage on shares of Oruka Therapeutics in a report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 price target on the stock. Jefferies Financial Group began coverage on Oruka Therapeutics in a report on Thursday, November 13th. They set a “buy” rating and a $45.00 price target on the stock. Guggenheim assumed coverage on Oruka Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $60.00 price objective for the company. Barclays began coverage on Oruka Therapeutics in a research report on Monday, October 13th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, HC Wainwright decreased their target price on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, October 27th. One research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.88.

Oruka Therapeutics Trading Up 1.1%

The firm has a 50-day simple moving average of $28.75 and a 200 day simple moving average of $19.98.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.01. As a group, equities research analysts forecast that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.61, for a total transaction of $214,270.00. Following the completion of the transaction, the insider owned 1,518 shares in the company, valued at approximately $46,465.98. The trade was a 82.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.69% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in Oruka Therapeutics by 6.1% in the 3rd quarter. Rhumbline Advisers now owns 30,327 shares of the company’s stock worth $583,000 after purchasing an additional 1,757 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Oruka Therapeutics in the third quarter worth about $39,000. Russell Investments Group Ltd. purchased a new position in shares of Oruka Therapeutics during the 3rd quarter worth $43,000. BNP Paribas Financial Markets raised its stake in shares of Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock worth $31,000 after buying an additional 2,306 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Oruka Therapeutics in the 2nd quarter worth approximately $28,000. 56.44% of the stock is currently owned by institutional investors.

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.