Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 5.8% - Here's What Happened

Key Points

• Oruka Therapeutics' shares have declined by 5.8%, trading at $14.54 with significantly reduced trading volume of 52,186 shares compared to the average of 246,607 shares.
• Analyst ratings vary, with HC Wainwright maintaining a "buy" rating and a price target of $45, while Wall Street Zen has downgraded the stock from "hold" to "sell".
• Oruka Therapeutics reported earnings per share of ($0.46), slightly beating analysts' expectations, and is predicted to post a yearly EPS of -3.41.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares were down 5.8% during mid-day trading on Monday . The company traded as low as $14.38 and last traded at $14.54. Approximately 52,186 shares were traded during trading, a decline of 79% from the average daily volume of 246,607 shares. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ORKA shares. BTIG Research started coverage on Oruka Therapeutics in a research report on Thursday, May 22nd. They set a "buy" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Monday, August 18th. Wall Street Zen downgraded Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Wedbush reiterated an "outperform" rating and issued a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, Oruka Therapeutics currently has an average rating of "Buy" and a consensus price target of $40.38.

Oruka Therapeutics Stock Down 3.1%

The company has a market cap of $554.26 million, a PE ratio of -5.27 and a beta of -0.35. The company has a 50-day moving average of $13.85 and a 200-day moving average of $11.69.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Oruka Therapeutics by 464.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock valued at $31,000 after purchasing an additional 2,306 shares during the period. Legal & General Group Plc bought a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at $31,000. JPMorgan Chase & Co. bought a new stake in shares of Oruka Therapeutics during the 4th quarter valued at $54,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at $68,000. Hedge funds and other institutional investors 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.