Oruka Therapeutics (NASDAQ:ORKA) Sets New 52-Week High – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.38 and last traded at $33.23, with a volume of 451510 shares changing hands. The stock had previously closed at $33.40.

Wall Street Analysts Forecast Growth

ORKA has been the topic of several research reports. Wall Street Zen lowered shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Barclays started coverage on Oruka Therapeutics in a report on Monday, October 13th. They issued an “overweight” rating and a $48.00 price target on the stock. Jefferies Financial Group started coverage on Oruka Therapeutics in a research note on Thursday, November 13th. They set a “buy” rating and a $45.00 price objective for the company. Guggenheim began coverage on Oruka Therapeutics in a research note on Monday, October 27th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Oruka Therapeutics in a report on Thursday, December 18th. They issued an “overweight” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.67.

Oruka Therapeutics Stock Performance

The stock has a market cap of $1.61 billion, a PE ratio of -17.49 and a beta of -0.39. The firm has a fifty day moving average price of $29.81 and a 200 day moving average price of $22.47.

Oruka Therapeutics (NASDAQ:ORKA) last announced its earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.01. On average, equities research analysts forecast that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current year.

Insider Activity

In related news, insider Joana Goncalves sold 7,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $31.81, for a total value of $222,670.00. Following the completion of the transaction, the insider directly owned 1,518 shares of the company’s stock, valued at $48,287.58. This trade represents a 82.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at $39,000. Russell Investments Group Ltd. acquired a new stake in Oruka Therapeutics during the 3rd quarter worth about $43,000. Legal & General Group Plc acquired a new stake in Oruka Therapeutics during the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Oruka Therapeutics during the 2nd quarter valued at about $31,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after purchasing an additional 2,306 shares during the period. Hedge funds and other 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.