Oruka Therapeutics (NASDAQ:ORKA) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Oruka Therapeutics reported a quarterly earnings per share (EPS) of ($0.46), exceeding the expected EPS of ($0.48) by $0.02.
• The company's stock closed at $13.05 after a slight decline, with a 12-month range between $5.49 and $52.32.
• Several analysts maintain a positive outlook, with an average target price of $40.38 and various firms issuing "buy" ratings for the stock.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.02, Zacks reports.

Oruka Therapeutics Stock Performance

Shares of NASDAQ:ORKA traded down $0.04 during midday trading on Monday, hitting $13.05. 101,121 shares of the company's stock traded hands, compared to its average volume of 138,709. The firm's fifty day moving average price is $13.12 and its two-hundred day moving average price is $11.44. Oruka Therapeutics has a twelve month low of $5.49 and a twelve month high of $52.32.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORKA. BTIG Research began coverage on shares of Oruka Therapeutics in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Oruka Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Wedbush reiterated an "outperform" rating and issued a $40.00 price target on shares of Oruka Therapeutics in a report on Monday, July 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $40.38.

Hedge Funds Weigh In On Oruka Therapeutics

A hedge fund recently bought a new stake in Oruka Therapeutics stock. Goldman Sachs Group Inc. purchased a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 244,199 shares of the company's stock, valued at approximately $2,505,000. Goldman Sachs Group Inc. owned 0.65% of Oruka Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds 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.

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