Oruka Therapeutics (NASDAQ:ORKA) Given New $78.00 Price Target at BTIG Research

Oruka Therapeutics (NASDAQ:ORKA) had its price target raised by BTIG Research from $73.00 to $78.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

ORKA has been the topic of several other reports. Wall Street Zen upgraded shares of Oruka Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 16th. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Oruka Therapeutics in a report on Friday, March 13th. UBS Group increased their target price on shares of Oruka Therapeutics from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oruka Therapeutics in a report on Thursday, January 22nd. Finally, Leerink Partners increased their target price on shares of Oruka Therapeutics from $58.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.90.

Oruka Therapeutics Price Performance

Shares of Oruka Therapeutics stock opened at $61.38 on Monday. Oruka Therapeutics has a 1 year low of $7.62 and a 1 year high of $64.61. The firm’s 50-day moving average is $40.07 and its two-hundred day moving average is $32.63. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -33.00 and a beta of -0.54.

Oruka Therapeutics (NASDAQ:ORKA) last issued its earnings results 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 expect that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Insider Activity

In other Oruka Therapeutics news, CEO Lawrence Otto Klein sold 1,729 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $41.30, for a total transaction of $71,407.70. Following the completion of the sale, the chief executive officer directly owned 927,309 shares of the company’s stock, valued at approximately $38,297,861.70. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joana Goncalves sold 7,641 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $40.91, for a total transaction of $312,593.31. Following the sale, the insider directly owned 33,377 shares of the company’s stock, 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 three months, insiders have sold 23,765 shares of company stock valued at $849,575. Insiders own 24.69% of the company’s stock.

Institutional Trading of Oruka Therapeutics

Hedge funds have recently modified their holdings of the company. Fairmount Funds Management LLC raised its position in shares of Oruka Therapeutics by 9.9% in the 3rd quarter. Fairmount Funds Management LLC now owns 3,705,262 shares of the company’s stock valued at $71,252,000 after purchasing an additional 333,340 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $25,640,000. Secure Asset Management LLC purchased a new position in shares of Oruka Therapeutics in the 4th quarter valued at approximately $2,475,000. Financial Enhancement Group LLC purchased a new position in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $631,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $296,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.