Oruka Therapeutics (NASDAQ:ORKA) Shares Up 11.3% – Here’s What Happened

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded up 11.3% during trading on Friday . The stock traded as high as $31.48 and last traded at $31.33. 645,592 shares traded hands during mid-day trading, an increase of 109% from the average session volume of 309,502 shares. The stock had previously closed at $28.15.

Analysts Set New Price Targets

Several research firms have recently issued reports on ORKA. HC Wainwright decreased their price objective on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Guggenheim assumed coverage on shares of Oruka Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $60.00 target price on the stock. Barclays assumed coverage on shares of Oruka Therapeutics in a research report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. Finally, BTIG Research lifted their price target on shares of Oruka Therapeutics from $56.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Oruka Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $48.88.

Oruka Therapeutics Price Performance

The firm has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $19.38. The company has a market capitalization of $1.54 billion, a PE ratio of -16.77 and a beta of -0.41.

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

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Oruka Therapeutics by 6.1% during the third quarter. Rhumbline Advisers now owns 30,327 shares of the company’s stock worth $583,000 after purchasing an additional 1,757 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $39,000. Russell Investments Group Ltd. bought a new stake in shares of Oruka Therapeutics during the 3rd quarter valued at about $43,000. BNP Paribas Financial Markets raised its stake in Oruka Therapeutics by 464.0% during 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 period. Finally, Legal & General Group Plc bought a new position in Oruka Therapeutics in the second quarter worth about $28,000. Institutional investors and hedge funds 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.