Oruka Therapeutics (NASDAQ:ORKA) Trading 7.4% Higher - What's Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report)'s share price traded up 7.4% during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $13.54. 127,068 shares were traded during trading, a decline of 46% from the average session volume of 234,912 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wedbush reiterated an "outperform" rating and set a $40.00 target price on shares of Oruka Therapeutics in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, BTIG Research initiated coverage on shares of Oruka Therapeutics in a research note on Thursday, May 22nd. They set a "buy" rating for the company. One investment 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $40.38.

Oruka Therapeutics Stock Performance

The stock has a market cap of $526.78 million, a P/E ratio of -3.12 and a beta of -0.34. The company's 50 day moving average price is $11.41 and its 200-day moving average price is $11.96.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. On average, analysts forecast that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Institutional Trading of Oruka Therapeutics

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in shares of Oruka Therapeutics in the 4th quarter worth $54,000. Squarepoint Ops LLC bought a new position in Oruka Therapeutics during the fourth quarter valued at about $236,000. Wellington Management Group LLP grew its position in Oruka Therapeutics by 15.8% during the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company's stock valued at $1,844,000 after buying an additional 12,952 shares during the period. Charles Schwab Investment Management Inc. bought a new position in Oruka Therapeutics during the fourth quarter valued at about $303,000. Finally, AlphaQuest LLC bought a new position in Oruka Therapeutics during the first quarter valued at about $168,000. Institutional investors 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.