Oruka Therapeutics, Inc. (NASDAQ:ORKA) Receives Average Recommendation of "Buy" from Brokerages

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) have received a consensus rating of "Buy" from the nine research firms that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $39.86.

ORKA has been the topic of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Friday, February 7th. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a research report on Friday, March 7th. Finally, Wolfe Research initiated coverage on shares of Oruka Therapeutics in a report on Tuesday, February 4th. They set an "outperform" rating and a $20.00 target price for the company.

Insider Activity

In related news, major shareholder Venrock Healthcare Capital Par purchased 88,794 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $11.44 per share, for a total transaction of $1,015,803.36. Following the completion of the purchase, the insider now owns 4,148,428 shares in the company, valued at approximately $47,458,016.32. This represents a 2.19 % increase in their ownership of the stock. The transaction 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 over the last 90 days. Company insiders own 22.67% of the company's stock.

Hedge Funds Weigh In On Oruka Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Oruka Therapeutics by 4,161.2% during the fourth quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company's stock valued at $31,231,000 after buying an additional 1,572,853 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Oruka Therapeutics in the third quarter valued at $17,661,000. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at $343,000. Wellington Management Group LLP boosted its holdings in shares of Oruka Therapeutics by 15.8% in the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company's stock worth $1,844,000 after buying an additional 12,952 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new position in Oruka Therapeutics during the 4th quarter worth approximately $303,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Oruka Therapeutics Stock Down 6.9 %

ORKA traded down $0.69 during trading on Thursday, hitting $9.29. 227,535 shares of the stock were exchanged, compared to its average volume of 233,645. The stock has a fifty day moving average price of $9.98 and a two-hundred day moving average price of $15.89. Oruka Therapeutics has a 1-year low of $5.49 and a 1-year high of $31.13. The firm has a market capitalization of $347.83 million, a P/E ratio of -1.48 and a beta of 0.25.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.19. Analysts predict that Oruka Therapeutics will post -3.41 EPS for the current year.

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.