Oruka Therapeutics (NASDAQ:ORKA) Shares Up 6.6% - Should You Buy?

Key Points

• Oruka Therapeutics' stock price increased by 6.6% during mid-day trading on Tuesday, reaching a high of $15.86, with a notable decline in trading volume.
• Analysts have differing views on Oruka, with HC Wainwright maintaining a "buy" rating and a target of $45.00, while Wall Street Zen downgraded it to "sell." The overall consensus rating remains at "Buy" with a target price of $40.38.
• Institutional investors and hedge funds hold about 56.44% of Oruka Therapeutics' stock, indicating significant interest and investment in the company.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report)'s stock price traded up 6.6% on Tuesday . The company traded as high as $15.86 and last traded at $15.78. 104,380 shares were traded during trading, a decline of 57% from the average session volume of 242,793 shares. The stock had previously closed at $14.80.

Wall Street Analysts Forecast Growth

ORKA has been the subject of several analyst reports. BTIG Research assumed coverage on shares of Oruka Therapeutics in a report on Thursday, May 22nd. They set a "buy" rating for the company. HC Wainwright reissued a "buy" rating and set a $45.00 target price on shares of Oruka Therapeutics in a research note on Monday, August 18th. Wall Street Zen lowered shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Wedbush reaffirmed an "outperform" rating and set a $40.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $40.38.

Oruka Therapeutics Stock Performance

The firm's 50 day moving average price is $14.26 and its two-hundred day moving average price is $11.83. The company has a market cap of $612.31 million, a P/E ratio of -5.82 and a beta of -0.26.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.02. As a group, analysts forecast that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Institutional Trading of Oruka Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in Oruka Therapeutics by 464.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock worth $31,000 after buying an additional 2,306 shares during the period. Bank of America Corp DE increased its holdings in shares of Oruka Therapeutics by 287.6% during the second quarter. Bank of America Corp DE now owns 18,849 shares of the company's stock valued at $211,000 after acquiring an additional 13,986 shares in the last quarter. Cable Car Capital LP raised its position in shares of Oruka Therapeutics by 33.3% during the second quarter. Cable Car Capital LP now owns 600,000 shares of the company's stock worth $6,726,000 after purchasing an additional 150,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Oruka Therapeutics in the 2nd quarter worth $167,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Oruka Therapeutics by 22.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,747 shares of the company's stock worth $591,000 after purchasing an additional 9,828 shares in the last quarter. 56.44% of the stock is owned by institutional investors.

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.