Oruka Therapeutics (NASDAQ:ORKA) Trading Up 7.4% - Should You Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares traded up 7.4% on Monday . The company traded as high as $13.40 and last traded at $13.54. 127,068 shares traded hands during mid-day 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 equities analysts recently weighed in on the company. Wedbush reissued an "outperform" rating and issued a $40.00 price target on shares of Oruka Therapeutics in a research note on Thursday, May 15th. BTIG Research assumed coverage on Oruka Therapeutics in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Wall Street Zen raised Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $40.38.

Oruka Therapeutics Stock Performance

The firm has a market cap of $497.58 million, a P/E ratio of -2.95 and a beta of -0.34. The company has a 50 day moving average of $11.22 and a 200 day moving average of $11.98.

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

Institutional Investors Weigh In On Oruka Therapeutics

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. acquired a new stake in Oruka Therapeutics in the 4th quarter worth approximately $303,000. Vanguard Group Inc. lifted its holdings in Oruka Therapeutics by 4,161.2% in the 4th quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company's stock worth $31,231,000 after purchasing an additional 1,572,853 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Oruka Therapeutics in the 4th quarter worth approximately $54,000. Wellington Management Group LLP lifted its holdings in Oruka Therapeutics by 15.8% in the 4th 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 during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Oruka Therapeutics by 2,348.6% in the 4th quarter. Geode Capital Management LLC now owns 342,418 shares of the company's stock worth $6,643,000 after purchasing an additional 328,434 shares during the last quarter. 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.