Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 3.3% – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price traded down 3.3% during trading on Tuesday . The stock traded as low as $30.08 and last traded at $29.8750. 43,557 shares traded hands during trading, a decline of 87% from the average session volume of 328,546 shares. The stock had previously closed at $30.90.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ORKA shares. HC Wainwright reduced their price target on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 27th. BTIG Research raised their target price on Oruka Therapeutics from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group started coverage on Oruka Therapeutics in a report on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Oruka Therapeutics in a report on Thursday, December 18th. They set an “overweight” rating and a $75.00 target price on the stock. One investment 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 stock. According to data from MarketBeat.com, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.88.

Oruka Therapeutics Stock Performance

The company’s 50-day moving average price is $29.02 and its 200 day moving average price is $20.43. The stock has a market cap of $1.41 billion, a PE ratio of -15.27 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, topping analysts’ consensus estimates of ($0.56) by $0.01. On average, sell-side analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Insider Activity at Oruka Therapeutics

In other news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $30.61, for a total transaction of $214,270.00. Following the transaction, the insider directly owned 1,518 shares of the company’s stock, valued at $46,465.98. The trade was a 82.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORKA. Financial Enhancement Group LLC bought a new position in Oruka Therapeutics in the 3rd quarter worth approximately $631,000. Affinity Asset Advisors LLC lifted its position in Oruka Therapeutics by 10.7% during the second quarter. Affinity Asset Advisors LLC now owns 603,479 shares of the company’s stock valued at $6,765,000 after purchasing an additional 58,117 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Oruka Therapeutics by 100.6% in the 2nd quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock worth $7,932,000 after buying an additional 354,821 shares in the last quarter. B Group Inc. grew its stake in shares of Oruka Therapeutics by 28.8% in the 2nd quarter. B Group Inc. now owns 75,000 shares of the company’s stock worth $841,000 after buying an additional 16,785 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Oruka Therapeutics by 40.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,012,968 shares of the company’s stock worth $11,355,000 after buying an additional 292,421 shares during the last quarter. 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.