Oruka Therapeutics (NASDAQ:ORKA) Given New $70.00 Price Target at HC Wainwright

Oruka Therapeutics (NASDAQ:ORKA) had its target price increased by HC Wainwright from $40.00 to $70.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on ORKA. Barclays increased their price objective on Oruka Therapeutics from $50.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Thursday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research report on Friday, March 13th. UBS Group upped their target price on Oruka Therapeutics from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Finally, Piper Sandler started coverage on Oruka Therapeutics in a research report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.90.

Oruka Therapeutics Trading Up 3.0%

Shares of Oruka Therapeutics stock opened at $61.38 on Monday. The stock has a 50-day moving average price of $40.07 and a 200 day moving average price of $32.63. The company has a market cap of $3.04 billion, a P/E ratio of -33.00 and a beta of -0.54. Oruka Therapeutics has a 1 year low of $7.62 and a 1 year high of $64.61.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.16. On average, equities analysts forecast that Oruka Therapeutics will post -3.41 earnings per share for the current fiscal year.

Insider Activity

In other Oruka Therapeutics news, CEO Lawrence Otto Klein sold 1,729 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $41.30, for a total value of $71,407.70. Following the transaction, the chief executive officer directly owned 927,309 shares of the company’s stock, valued at $38,297,861.70. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joana Goncalves sold 7,641 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $40.91, for a total value of $312,593.31. Following the completion of the transaction, the insider directly owned 33,377 shares in the company, valued at approximately $1,365,453.07. The trade was a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 23,765 shares of company stock worth $849,575. Insiders own 24.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Oruka Therapeutics by 47.2% during the 4th quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Oruka Therapeutics during the 4th quarter valued at about $37,000. PNC Financial Services Group Inc. acquired a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Oruka Therapeutics during the 4th quarter valued at about $67,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $43,000. Institutional investors and hedge funds 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.