Oruka Therapeutics (NASDAQ:ORKA) Shares Gap Up – Still a Buy?

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) gapped up prior to trading on Monday . The stock had previously closed at $72.34, but opened at $81.00. Oruka Therapeutics shares last traded at $82.4510, with a volume of 400,989 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on ORKA. Wall Street Zen cut shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Guggenheim set a $200.00 price target on Oruka Therapeutics and gave the stock a “buy” rating in a research report on Monday, April 27th. Wedbush set a $165.00 price target on Oruka Therapeutics in a research report on Monday, April 27th. Stifel Nicolaus lifted their price objective on Oruka Therapeutics from $47.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of Oruka Therapeutics in a report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.30.

Oruka Therapeutics Trading Up 18.1%

The firm has a market cap of $5.15 billion, a P/E ratio of -43.98 and a beta of -0.25. The firm’s 50 day moving average is $64.73 and its two-hundred day moving average is $45.48.

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

Insider Activity

In other Oruka Therapeutics news, Director Carl Dambkowski sold 12,583 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $70.11, for a total value of $882,194.13. Following the completion of the transaction, the director directly owned 38,743 shares of the company’s stock, valued at approximately $2,716,271.73. The trade was a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.28, for a total value of $550,568.16. Following the completion of the sale, the insider owned 32,718 shares of the company’s stock, valued at $2,266,703.04. This trade represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 183,820 shares of company stock worth $11,507,840 in the last 90 days. Corporate insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

Several institutional investors have recently modified their holdings of the business. Avidity Partners Management LP increased its stake in Oruka Therapeutics by 15.1% during the 1st 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 lifted its stake in Oruka Therapeutics by 11.7% in the first quarter. Glenmede Trust Co. NA now owns 21,772 shares of the company’s stock valued at $1,068,000 after buying an additional 2,287 shares in the last quarter. Remedium Capital Partners LLC lifted its stake in Oruka Therapeutics by 0.9% in the first quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock valued at $76,796,000 after buying an additional 13,247 shares in the last quarter. Royal Bank of Canada boosted its holdings 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 valued at $155,000 after buying an additional 2,033 shares during the period. Finally, Rock Springs Capital Management LP acquired a new position in shares of Oruka Therapeutics in the first quarter valued at approximately $202,000. 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.