Oruka Therapeutics, Inc. (NASDAQ:ORKA) Sees Significant Decline in Short Interest

Oruka Therapeutics, Inc. (NASDAQ:ORKA) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 3,644,487 shares, a decrease of 18.4% from the February 26th total of 4,466,793 shares. Based on an average daily volume of 487,246 shares, the short-interest ratio is presently 7.5 days. Currently, 9.8% of the company’s stock are short sold.

Oruka Therapeutics Stock Up 1.2%

Shares of ORKA stock traded up $0.55 during trading hours on Monday, reaching $45.03. The company’s stock had a trading volume of 408,906 shares, compared to its average volume of 522,515. Oruka Therapeutics has a fifty-two week low of $5.49 and a fifty-two week high of $47.25. The firm’s 50 day simple moving average is $35.34 and its 200-day simple moving average is $29.52. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -24.08 and a beta of -0.38.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.16. Sell-side analysts predict that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Wall Street Analyst Weigh In

ORKA has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a report on Thursday, January 22nd. BTIG Research reissued a “buy” rating and issued a $73.00 price objective on shares of Oruka Therapeutics in a research report on Friday, March 13th. UBS Group initiated coverage on shares of Oruka Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Wall Street Zen raised shares of Oruka Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 16th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.60.

Insider Activity at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,641 shares of the company’s stock in a transaction on 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. This represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence Otto Klein sold 1,729 shares of Oruka Therapeutics 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 transaction, the chief executive officer directly owned 927,309 shares of the company’s stock, valued at approximately $38,297,861.70. This trade represents a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,765 shares of company stock valued at $849,575. 24.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oruka Therapeutics

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Oruka Therapeutics during the fourth quarter valued at about $67,000. Seven Fleet Capital Management LP bought a new position in Oruka Therapeutics in the 4th quarter valued at approximately $159,000. Invesco Ltd. raised its holdings in Oruka Therapeutics by 777.1% in the 4th quarter. Invesco Ltd. now owns 143,121 shares of the company’s stock valued at $4,338,000 after buying an additional 126,803 shares during the last quarter. Virtus Investment Advisers LLC acquired a new stake in Oruka Therapeutics during the 4th quarter worth approximately $267,000. Finally, RTW Investments LP grew its holdings in Oruka Therapeutics by 5.8% during the 4th quarter. RTW Investments LP now owns 2,058,148 shares of the company’s stock worth $62,382,000 after acquiring an additional 112,499 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors.

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.