Oruka Therapeutics (NASDAQ:ORKA) CEO Sells $120,494.01 in Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) CEO Lawrence Otto Klein sold 1,729 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $69.69, for a total transaction of $120,494.01. Following the transaction, the chief executive officer directly owned 925,580 shares in the company, valued at $64,503,670.20. The trade was 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Oruka Therapeutics Trading Down 1.5%

Shares of ORKA traded down $1.03 during trading hours on Monday, reaching $68.86. 1,002,319 shares of the stock traded hands, compared to its average volume of 1,071,721. The stock has a fifty day simple moving average of $63.40 and a 200 day simple moving average of $44.04. Oruka Therapeutics, Inc. has a 52 week low of $10.77 and a 52 week high of $91.00. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -35.49 and a beta of -0.25.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.04. Analysts predict that Oruka Therapeutics, Inc. will post -2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Leerink Partners set a $120.00 price objective on shares of Oruka Therapeutics in a research report on Thursday, April 30th. Guggenheim set a $200.00 price objective on shares of Oruka Therapeutics and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.30.

Hedge Funds Weigh In On Oruka Therapeutics

Several large investors have recently modified their holdings of the business. Avidity Partners Management LP increased its stake in shares of Oruka Therapeutics by 15.1% in the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock worth $37,299,000 after purchasing an additional 100,000 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Oruka Therapeutics by 11.7% in the first quarter. Glenmede Trust Co. NA now owns 21,772 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,287 shares in the last quarter. Remedium Capital Partners LLC increased its stake in shares of Oruka Therapeutics by 0.9% in the first quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock worth $76,796,000 after purchasing an additional 13,247 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Oruka Therapeutics by 178.5% in the first quarter. Royal Bank of Canada now owns 3,172 shares of the company’s stock worth $155,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Rock Springs Capital Management LP purchased a new position in shares of Oruka Therapeutics in the first quarter worth about $202,000. 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.