Oruka Therapeutics (NASDAQ:ORKA) Raised to "Strong-Buy" at BTIG Research

BTIG Research upgraded shares of Oruka Therapeutics (NASDAQ:ORKA - Free Report) to a strong-buy rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. BTIG Research currently has $44.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Wedbush restated an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $45.00 price target on shares of Oruka Therapeutics in a report on Friday, February 7th. Finally, Wolfe Research started coverage on shares of Oruka Therapeutics in a research report on Tuesday, February 4th. They set an "outperform" rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $40.38.

Oruka Therapeutics Price Performance

Oruka Therapeutics stock traded up $0.44 during midday trading on Thursday, reaching $11.39. The stock had a trading volume of 85,775 shares, compared to its average volume of 225,171. Oruka Therapeutics has a twelve month low of $5.49 and a twelve month high of $31.13. The firm has a market cap of $426.45 million, a price-to-earnings ratio of -1.82 and a beta of 0.25. The firm's fifty day simple moving average is $9.78 and its two-hundred day simple moving average is $14.01.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.17. As a group, sell-side analysts predict that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Oruka Therapeutics by 4,161.2% in the fourth quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company's stock valued at $31,231,000 after acquiring an additional 1,572,853 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Oruka Therapeutics by 2,348.6% in the 4th quarter. Geode Capital Management LLC now owns 342,418 shares of the company's stock valued at $6,643,000 after purchasing an additional 328,434 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Oruka Therapeutics in the 4th quarter valued at $54,000. Wellington Management Group LLP boosted its holdings in 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 purchasing an additional 12,952 shares in the last quarter. Finally, Barclays PLC acquired a new position in Oruka Therapeutics during the fourth quarter worth $1,446,000. 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.