Wall Street Zen Upgrades Oruka Therapeutics (NASDAQ:ORKA) to “Hold”

Oruka Therapeutics (NASDAQ:ORKA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on ORKA. Wedbush set a $165.00 target price on shares of Oruka Therapeutics in a research report on Monday, April 27th. Piper Sandler restated an “overweight” rating and issued a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Barclays raised their price objective on Oruka Therapeutics from $78.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Oruka Therapeutics in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Oruka Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $134.30.

Oruka Therapeutics Stock Performance

NASDAQ ORKA opened at $98.82 on Friday. The firm’s fifty day moving average price is $82.59 and its two-hundred day moving average price is $60.25. The stock has a market cap of $5.96 billion, a PE ratio of -50.94 and a beta of -0.34. Oruka Therapeutics has a fifty-two week low of $12.84 and a fifty-two week high of $100.34.

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

Insider Buying and Selling

In related news, Director Carl Dambkowski sold 105,000 shares of Oruka Therapeutics stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $58.97, for a total transaction of $6,191,850.00. Following the transaction, the director owned 73,743 shares of the company’s stock, valued at $4,348,624.71. The trade was a 58.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Agarwal sold 10,290 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $59.07, for a total value of $607,830.30. Following the transaction, the senior vice president owned 16,406 shares in the company, valued at approximately $969,102.42. This trade represents a 38.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 188,406 shares of company stock worth $12,019,683 over the last three months. Company insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Oruka Therapeutics in the 2nd quarter worth about $474,916,000. Viking Global Investors LP purchased a new stake in Oruka Therapeutics during the third quarter worth about $51,280,000. Paradigm Biocapital Advisors LP bought a new stake in Oruka Therapeutics in the fourth quarter worth about $51,840,000. Remedium Capital Partners LLC bought a new stake in Oruka Therapeutics in the fourth quarter worth about $47,054,000. Finally, Deep Track Capital LP boosted its stake in Oruka Therapeutics by 38.4% in the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock valued at $51,051,000 after acquiring an additional 735,983 shares during the last quarter. 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.