Oruka Therapeutics (NASDAQ:ORKA) Earns “Outperform” Rating from Wedbush

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They currently have a $40.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 282.41% from the company’s current price.

Several other research firms also recently commented on ORKA. Wolfe Research began coverage on shares of Oruka Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Friday, February 7th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Oruka Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $39.86.

Oruka Therapeutics Price Performance

ORKA opened at $10.46 on Friday. Oruka Therapeutics has a one year low of $9.44 and a one year high of $31.13. The firm has a market capitalization of $366.09 million, a PE ratio of -1.67 and a beta of 0.67. The business’s 50-day moving average price is $13.26.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.19. As a group, equities research analysts forecast that Oruka Therapeutics will post -3.41 earnings per share for the current fiscal year.

Insider Activity

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par bought 8,971 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average cost of $11.86 per share, with a total value of $106,396.06. Following the purchase, the insider now owns 4,044,684 shares in the company, valued at approximately $47,969,952.24. This represents a 0.22 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 98,339 shares of company stock valued at $1,128,456 over the last quarter. Corporate insiders own 22.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $1,037,000. Wellington Management Group LLP acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at about $2,013,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at about $17,661,000. Point72 Asset Management L.P. purchased a new stake in Oruka Therapeutics during the third quarter worth about $11,822,000. Finally, Geode Capital Management LLC acquired a new position in Oruka Therapeutics during the third quarter worth about $343,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Oruka Therapeutics Company Profile

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.