Oruka Therapeutics, Inc. (NASDAQ:ORKA) Short Interest Update

Oruka Therapeutics, Inc. (NASDAQ:ORKA) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 4,522,980 shares, an increase of 24.1% from the March 15th total of 3,644,487 shares. Based on an average trading volume of 900,965 shares, the short-interest ratio is currently 5.0 days. Approximately 12.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of Oruka Therapeutics from $50.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Leerink Partners upped their price target on shares of Oruka Therapeutics from $58.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. Piper Sandler began coverage on shares of Oruka Therapeutics in a research note on Thursday, December 18th. They issued an “overweight” rating and a $75.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Oruka Therapeutics from $47.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, HC Wainwright upped their target price on shares of Oruka Therapeutics from $40.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.90.

Oruka Therapeutics Stock Up 2.8%

ORKA traded up $1.85 on Friday, reaching $68.92. 1,379,486 shares of the company’s stock were exchanged, compared to its average volume of 1,134,027. The company’s 50 day moving average is $42.80 and its 200-day moving average is $33.81. Oruka Therapeutics has a twelve month low of $8.91 and a twelve month high of $70.14.

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

Insider Activity at Oruka Therapeutics

In other news, CEO Lawrence Otto Klein sold 1,729 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $41.30, for a total value of $71,407.70. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joana Goncalves sold 7,641 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 33,377 shares of the company’s stock, valued at approximately $1,365,453.07. The trade was a 18.63% 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 $1,089,745. Insiders own 24.69% of the company’s stock.

Institutional Trading of Oruka Therapeutics

Several large investors have recently modified their holdings of the business. Viking Global Investors LP acquired a new stake in shares of Oruka Therapeutics during the third quarter worth approximately $51,280,000. Paradigm Biocapital Advisors LP bought a new stake in Oruka Therapeutics in the fourth quarter valued at $51,840,000. Remedium Capital Partners LLC bought a new stake in Oruka Therapeutics in the fourth quarter valued at $47,054,000. Avoro Capital Advisors LLC bought a new stake in Oruka Therapeutics in the third quarter valued at $25,640,000. Finally, Deep Track Capital LP lifted its stake in Oruka Therapeutics by 38.4% in the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock valued at $51,051,000 after buying an additional 735,983 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.