Insider Selling: Oruka Therapeutics (NASDAQ:ORKA) SVP Sells 9,459 Shares of Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) SVP Arjun Agarwal sold 9,459 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $69.72, for a total transaction of $659,481.48. Following the completion of the transaction, the senior vice president owned 17,294 shares in the company, valued at approximately $1,205,737.68. This represents a 35.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arjun Agarwal also recently made the following trade(s):

• On Monday, June 15th, Arjun Agarwal sold 395 shares of Oruka Therapeutics stock. The stock was sold at an average price of $69.69, for a total transaction of $27,527.55.
• On Monday, May 18th, Arjun Agarwal sold 10,290 shares of Oruka Therapeutics stock. The shares were sold at an average price of $59.07, for a total transaction of $607,830.30.

Oruka Therapeutics Stock Performance

Shares of NASDAQ ORKA traded down $1.03 during mid-day trading on Monday, reaching $68.86. The company had a trading volume of 1,002,319 shares, compared to its average volume of 1,071,721. Oruka Therapeutics, Inc. has a twelve month low of $10.77 and a twelve month high of $91.00. The stock’s 50 day moving average is $63.40 and its 200-day moving average is $44.04. The stock has a market capitalization of $4.15 billion, a PE ratio of -35.49 and a beta of -0.25.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04. On average, sell-side analysts anticipate that Oruka Therapeutics, Inc. will post -2.06 EPS for the current year.

Hedge Funds Weigh In On Oruka Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ORKA. Legal & General Group Plc bought a new position in shares of Oruka Therapeutics during the 2nd quarter worth approximately $28,000. BNP Paribas Financial Markets raised its position in Oruka Therapeutics by 464.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after purchasing an additional 2,306 shares during the last quarter. Royal Bank of Canada raised its position in Oruka Therapeutics by 47.2% in the 4th quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock valued at $34,000 after purchasing an additional 365 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Oruka Therapeutics in the 4th quarter valued at $37,000. Finally, PNC Financial Services Group Inc. bought a new position in Oruka Therapeutics in the 3rd quarter valued at $39,000. Institutional investors own 56.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Tuesday, April 21st. BTIG Research reissued a “buy” rating and set a $151.00 price objective on shares of Oruka Therapeutics in a report on Thursday, May 14th. Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Guggenheim set a $200.00 price objective on Oruka Therapeutics and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Stifel Nicolaus lifted their price objective on Oruka Therapeutics from $47.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.30.

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.