Wolfe Research Begins Coverage on Oruka Therapeutics (NASDAQ:ORKA)

Investment analysts at Wolfe Research began coverage on shares of Oruka Therapeutics (NASDAQ:ORKA) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $20.00 price target on the stock. Wolfe Research’s target price indicates a potential upside of 39.96% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday, December 20th. Finally, Stifel Nicolaus started coverage on shares of Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $39.86.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $14.29 on Tuesday. The firm has a 50-day moving average of $18.00. The company has a market cap of $500.15 million, a PE ratio of -2.28 and a beta of 0.77. Oruka Therapeutics has a twelve month low of $10.95 and a twelve month high of $53.88.

Institutional Investors Weigh In On Oruka Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $1,037,000. FMR LLC bought a new position in Oruka Therapeutics in the third quarter valued at approximately $114,763,000. Great Point Partners LLC acquired a new position in Oruka Therapeutics during the third quarter valued at approximately $12,614,000. Braidwell LP bought a new stake in Oruka Therapeutics during the third quarter worth $12,640,000. Finally, Janus Henderson Group PLC bought a new stake in Oruka Therapeutics during the third 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.