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

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.53 and last traded at $35.5260, with a volume of 40860 shares changing hands. The stock had previously closed at $35.56.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a research report on Thursday, November 13th. They set a “buy” rating and a $45.00 target price for the company. BTIG Research increased their price objective on shares of Oruka Therapeutics from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Thursday, January 22nd. Piper Sandler initiated 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. Finally, UBS Group initiated coverage on Oruka Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Oruka Therapeutics Stock Down 0.6%

The company has a 50 day simple moving average of $31.94 and a two-hundred day simple moving average of $25.89. The company has a market capitalization of $1.71 billion, a P/E ratio of -18.61 and a beta of -0.38.

Insiders Place Their Bets

In related news, insider Joana Goncalves sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $32.37, for a total value of $226,590.00. Following the completion of the sale, the insider directly owned 34,018 shares in the company, valued at $1,101,162.66. This trade represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 21,000 shares of company stock worth $663,530. Corporate insiders own 24.69% of the company’s stock.

Institutional Investors Weigh In On Oruka Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ORKA. Royal Bank of Canada grew its holdings in 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 purchasing an additional 365 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Oruka Therapeutics during the fourth quarter valued at approximately $37,000. PNC Financial Services Group Inc. bought a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new stake in shares of Oruka Therapeutics in the third quarter worth approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Oruka Therapeutics by 62.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,352 shares of the company’s stock worth $71,000 after acquiring an additional 904 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.