# Oruka Therapeutics, Inc. (ORKA)

> Source: Nexqual · https://nexqual.com/ORKA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Oruka Therapeutics, Inc. (ORKA), nexqual.com/ORKA" · informational, not investment advice.

**Price:** USD 81.15 (+1.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 79.92 · day 78.36–82.15 · 52w 25.23–115.52 · market cap $5.37B · NGM

## Key facts
- 1 of 80 tracked superinvestors hold ORKA (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 1.85 on a 1–5 scale) (13 analysts), mean target USD 155 (range 117–200).
- Total return with dividends: 1Y +199.1% vs S&P 500 +14.9%; 5Y +370.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-11, EPS estimate USD -0.62, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2020 | FY2021 | FY2022 | FY2023 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0K | $0K | $0K | $0K | — | — |
| Operating income | -$9.8M | -$19.3M | -$10.6M | -$7.3M | -$122M | -$155M |
| Net income | -$9.7M | -$19.3M | -$9.9M | -$5.3M | -$105M | -$133M |
| EPS (diluted) | -$24.84 | -$16.68 | -$8.28 | -$4.44 | — | — |
| Free cash flow | -$7.7M | -$18.8M | -$10.9M | -$5.0M | -$88.4M | -$101M |
| Cash + short-term investments | $49.1M | $53.4M | $42.4M | $37.4M | $337M | — |
| Total debt | $0K | $0K | $0K | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 4.8x · FCF yield -1.88% · Earnings yield -2.47%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ORKA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Viking Global | Viking Global Investors | 0.41% | $143M | Reduced -43.6% |

## Analysts
Consensus Buy (mean 1.85 on a 1–5 scale), 13 analysts; mean target USD 155 (low 117, high 200).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | BTIG | Reiterated | Buy | $151 |
| 2026-09-24 | Wedbush | Reiterated | Outperform | $165 |
| 2026-09-24 | HC Wainwright & Co. | Reiterated | Buy | $120 |
| 2026-09-03 | HC Wainwright & Co. | Reiterated | Buy | $120 |
| 2026-08-11 | Guggenheim | Reiterated | Buy | $200 |
| 2026-08-11 | Wedbush | Reiterated | Outperform | $165 |
| 2026-08-11 | BTIG | Reiterated | Buy | $151 |
| 2026-08-03 | HC Wainwright & Co. | Reiterated | Buy | $120 |
| 2026-07-13 | BTIG | Reiterated | Buy | $151 |
| 2026-07-01 | UBS | Target raised | Buy | $100 → $130 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +199.1% | +370.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +200.2% | +36.2% |
| Volatility (annualized) | 66.3% | 62.8% |
| Max drawdown | -36.4% (Aug 2026→Oct 2026) | -74.2% (Oct 2024→Apr 2025) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 90.9 +2.57% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · ABVX (Abivax SA) USD 90.23 -3.49%

## More
Full page: https://nexqual.com/ORKA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-10)

- "ORKA-001 was well tolerated with a safety profile similar to placebo and consistent with prior IL-23p19 inhibitors. ● The Company expects to report Week 28 data from EVERLAST-A for all participants at the end of the third quarter of 2026."
- "These data will provide the first look at maintenance of response out to six months and potential deepening of responses for patients who did not reach PASI 100 at Week 16. ● The Company also expects to report 52-week data from EVERLAST-A for all participants in December 2026."
- "The Company now expects to report Week 16 data for all participants in the fourth quarter of 2026."
- "ORKA-002: A novel half-life extended IL-17A/F monoclonal antibody ● The Company now expects to report Week 16 data from ORCA-SURGE, a Phase 2 trial in moderate-to-severe PsO, in the first quarter of 2027. ● The Company initiated ORCA-SPLASH, a Phase 2 trial in moderate-to-severe HS."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.62 | $-0.51 | +22.0% | $0 | 9 |
| Next quarter (ends 2026-12-31) | $-0.66 | $-0.53 | +24.4% | $0 | 9 |
| Current fiscal year (ends 2026-12-31) | $-2.37 | $-2.04 | +16.1% | $0 | 9 |
| Next fiscal year (ends 2027-12-31) | $-2.86 | $-2.49 | +14.8% | $0 | 9 |