Oruka Therapeutics (NASDAQ:ORKA) Stock Price Up 4.3% – Time to Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares rose 4.3% on Wednesday . The company traded as high as $30.32 and last traded at $30.3720. Approximately 67,821 shares changed hands during trading, a decline of 79% from the average daily volume of 330,420 shares. The stock had previously closed at $29.12.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORKA. Guggenheim began coverage on Oruka Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $60.00 target price on the stock. HC Wainwright decreased their price target on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Wall Street Zen cut shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a report on Wednesday, October 8th. Finally, Piper Sandler initiated coverage on shares of Oruka Therapeutics in a research note on Thursday, December 18th. They set an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.88.

Oruka Therapeutics Stock Up 4.1%

The company has a 50 day moving average of $29.19 and a two-hundred day moving average of $20.68. The firm has a market cap of $1.47 billion, a P/E ratio of -15.95 and a beta of -0.39.

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

Insiders Place Their Bets

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.61, for a total value of $214,270.00. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.69% of the company’s stock.

Institutional Investors Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP boosted its stake in shares of Oruka Therapeutics by 46.9% during the 3rd quarter. Woodline Partners LP now owns 574,330 shares of the company’s stock worth $11,044,000 after acquiring an additional 183,426 shares in the last quarter. Polar Capital Holdings Plc boosted its position in shares of Oruka Therapeutics by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,032,307 shares of the company’s stock valued at $19,851,000 after purchasing an additional 57,307 shares during the period. Palo Alto Investors LP purchased a new position in Oruka Therapeutics in the 3rd quarter worth about $1,154,000. Fairmount Funds Management LLC raised its holdings in Oruka Therapeutics by 9.9% during the 3rd quarter. Fairmount Funds Management LLC now owns 3,705,262 shares of the company’s stock worth $71,252,000 after buying an additional 333,340 shares during the period. Finally, Commodore Capital LP lifted its stake in Oruka Therapeutics by 23.5% during the third quarter. Commodore Capital LP now owns 1,753,054 shares of the company’s stock valued at $33,711,000 after buying an additional 333,340 shares in the last quarter. Institutional investors and hedge funds 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.