Oruka Therapeutics (NASDAQ:ORKA) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Oruka Therapeutics (NASDAQ:ORKA - Free Report) in a research report released on Friday morning,RTT News reports. Wedbush currently has a $40.00 price objective on the stock.

ORKA has been the subject of several other research reports. HC Wainwright restated a "buy" rating and set a $45.00 target price on shares of Oruka Therapeutics in a research report on Friday, February 7th. Wolfe Research started coverage on Oruka Therapeutics in a research note on Tuesday, February 4th. They set an "outperform" rating and a $20.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $39.86.

Oruka Therapeutics Price Performance

NASDAQ:ORKA traded up $0.12 during midday trading on Friday, hitting $11.06. 431,797 shares of the company traded hands, compared to its average volume of 211,234. The stock has a market cap of $387.09 million, a price-to-earnings ratio of -1.77 and a beta of 0.67. The firm has a fifty day moving average price of $12.94. Oruka Therapeutics has a 12-month low of $9.44 and a 12-month high of $31.13.

Remove Ads

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.19. On average, analysts anticipate that Oruka Therapeutics will post -3.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par acquired 88,794 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $11.44 per share, with a total value of $1,015,803.36. Following the completion of the purchase, the insider now directly owns 4,148,428 shares in the company, valued at $47,458,016.32. The trade was a 2.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 98,339 shares of company stock worth $1,128,456 in the last ninety days. 22.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oruka Therapeutics

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $1,037,000. FMR LLC bought a new stake in Oruka Therapeutics during the 3rd quarter valued at $114,763,000. Great Point Partners LLC bought a new stake in Oruka Therapeutics during the 3rd quarter valued at $12,614,000. Braidwell LP purchased a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $12,640,000. Finally, Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter worth $5,840,000. Institutional investors own 56.44% of the company's stock.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.