Oruka Therapeutics (NASDAQ:ORKA) Shares Up 11.2% – Should You Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price was up 11.2% on Monday. The stock traded as high as $88.68 and last traded at $89.1520. Approximately 133,034 shares changed hands during trading, a decline of 88% from the average session volume of 1,077,736 shares. The stock had previously closed at $80.15.

Wall Street Analysts Forecast Growth

ORKA has been the subject of a number of analyst reports. UBS Group boosted their price target on Oruka Therapeutics from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Mizuho set a $120.00 price objective on shares of Oruka Therapeutics in a research note on Thursday, September 3rd. BTIG Research reaffirmed a “buy” rating and issued a $151.00 price objective on shares of Oruka Therapeutics in a report on Monday, October 19th. Wedbush set a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $128.91.

Oruka Therapeutics Stock Performance

The company has a market cap of $6.08 billion, a price-to-earnings ratio of -45.33 and a beta of -0.37. The company’s 50 day moving average price is $89.62 and its 200-day moving average price is $81.20.

Oruka Therapeutics (NASDAQ:ORKA) last issued its earnings results on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, sell-side analysts forecast that Oruka Therapeutics, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Oruka Therapeutics

In related news, insider Joana Goncalves sold 7,000 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $74.81, for a total value of $523,670.00. Following the completion of the sale, the insider directly owned 31,771 shares of the company’s stock, valued at approximately $2,376,788.51. This represents a 18.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Agarwal sold 9,999 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $80.60, for a total transaction of $805,919.40. Following the sale, the senior vice president owned 14,219 shares of the company’s stock, valued at approximately $1,146,051.40. This represents a 41.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 154,950 shares of company stock worth $14,102,680. 23.49% of the stock is owned by corporate insiders.

Institutional Trading of Oruka Therapeutics

A number of institutional investors have recently bought and sold shares of ORKA. Sterling Capital Management LLC lifted its holdings in shares of Oruka Therapeutics by 839.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,662 shares of the company’s stock valued at $138,000 after buying an additional 1,485 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Oruka Therapeutics by 201.6% in the third quarter. GAMMA Investing LLC now owns 374 shares of the company’s stock worth $31,000 after purchasing an additional 250 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Oruka Therapeutics during the second quarter worth $350,000. Arizona State Retirement System increased its position in Oruka Therapeutics by 45.0% during the second quarter. Arizona State Retirement System now owns 8,671 shares of the company’s stock worth $825,000 after buying an additional 2,691 shares during the last quarter. Finally, Nykredit A S bought a new position in Oruka Therapeutics during the second quarter valued at about $29,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

About Oruka Therapeutics

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company is focused on creating treatments that may provide durable disease control while reducing the frequency of administration compared with conventional biologic therapies.

Oruka’s pipeline is centered on engineered monoclonal antibodies that target the interleukin-17 (IL-17) pathway, an important driver of inflammation in conditions such as psoriasis and other autoimmune diseases.