Oruka Therapeutics (NASDAQ:ORKA) Releases Earnings Results, Misses Expectations By $0.04 EPS

Oruka Therapeutics (NASDAQ:ORKA) announced its quarterly earnings data on Monday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.04), FiscalAI reports.

Oruka Therapeutics Trading Up 6.4%

Shares of ORKA opened at $105.14 on Tuesday. The firm has a market cap of $6.34 billion, a PE ratio of -54.20 and a beta of -0.34. The company’s 50 day simple moving average is $83.59 and its 200-day simple moving average is $60.75. Oruka Therapeutics has a 12-month low of $12.84 and a 12-month high of $105.31.

Insider Buying and Selling at Oruka Therapeutics

In other news, SVP Arjun Agarwal sold 10,290 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $59.07, for a total transaction of $607,830.30. Following the completion of the sale, the senior vice president owned 16,406 shares in the company, valued at $969,102.42. This represents a 38.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Dambkowski sold 105,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $58.97, for a total value of $6,191,850.00. Following the transaction, the director owned 73,743 shares in the company, valued at $4,348,624.71. This trade represents a 58.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 188,406 shares of company stock valued at $12,019,683. Company insiders own 23.49% of the company’s stock.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently made changes to their positions in ORKA. Legal & General Group Plc purchased a new position in shares of Oruka Therapeutics during the 2nd quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its holdings in Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock worth $31,000 after acquiring an additional 2,306 shares during the last quarter. Royal Bank of Canada boosted its stake in Oruka Therapeutics by 47.2% in the fourth 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 period. Los Angeles Capital Management LLC acquired a new position in Oruka Therapeutics in the fourth quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Analyst Ratings Changes

ORKA has been the topic of several recent research reports. Leerink Partners set a $120.00 price target on Oruka Therapeutics in a report on Thursday, April 30th. BTIG Research reiterated a “buy” rating and issued a $151.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday. Wall Street Zen upgraded shares of Oruka Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.30.

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.