Oruka Therapeutics, Inc. (NASDAQ:ORKA – Get Free Report)’s share price dropped 4.3% during mid-day trading on Tuesday. The company traded as low as $81.90 and last traded at $80.7750. Approximately 32,656 shares changed hands during trading, a decline of 97% from the average daily volume of 1,091,635 shares. The stock had previously closed at $84.38.
Analyst Upgrades and Downgrades
ORKA has been the topic of a number of analyst reports. Wedbush set a $120.00 target price on shares of Oruka Therapeutics in a research note on Thursday, September 24th. Guggenheim restated a “buy” rating and set a $200.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. UBS Group increased their price objective on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Mizuho set a $120.00 target price on Oruka Therapeutics in a research report on Thursday, September 3rd. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.91.
Read Our Latest Stock Report on ORKA
Oruka Therapeutics Stock Performance
Oruka Therapeutics (NASDAQ:ORKA – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.04). As a group, sell-side analysts predict that Oruka Therapeutics, Inc. will post -2.42 earnings per share for the current fiscal year.
Insider Buying and Selling at Oruka Therapeutics
In other news, SVP Arjun Agarwal sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $106.66, for a total value of $1,066,600.00. Following the completion of the sale, the senior vice president directly owned 15,312 shares of the company’s stock, valued at approximately $1,633,177.92. This represents a 39.51% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Lawrence Klein sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total value of $6,887,250.00. Following the sale, the chief executive officer directly owned 925,580 shares of the company’s stock, valued at $84,996,011.40. The trade was a 7.50% 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. Over the last three months, insiders have sold 147,950 shares of company stock worth $13,619,306. 23.49% of the stock is owned by company insiders.
Institutional Trading of Oruka Therapeutics
Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Oruka Therapeutics in the 2nd quarter worth approximately $474,916,000. Jupiter Topco LLC acquired a new stake in shares of Oruka Therapeutics during the 2nd quarter worth about $130,968,000. Bank of America Corp DE purchased a new stake in Oruka Therapeutics in the 2nd quarter worth approximately $33,578,000. Braidwell LP purchased a new position in Oruka Therapeutics during the second quarter worth about $26,473,000. Finally, Atika Capital Management LLC purchased a new position in shares of Oruka Therapeutics during the 1st quarter worth about $11,277,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.
Oruka Therapeutics Company Profile
Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company’s approach is designed to extend the duration of treatment and potentially reduce the frequency of dosing for patients with chronic inflammatory conditions.
Oruka’s pipeline includes ORKA-001 and ORKA-002, next-generation monoclonal antibodies targeting interleukin-23 (IL-23), a cytokine involved in several autoimmune and inflammatory diseases.
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