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

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.

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

Analyst Ratings Changes

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

Oruka Therapeutics Stock Performance

The firm has a market capitalization of $544.72 million, a PE ratio of -5.16 and a beta of -0.35. The business's 50 day moving average is $13.56 and its two-hundred day moving average is $11.56.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Oruka Therapeutics in the fourth quarter worth $343,000. Squarepoint Ops LLC bought a new stake in Oruka Therapeutics in the fourth quarter worth $236,000. Millennium Management LLC bought a new stake in Oruka Therapeutics in the fourth quarter worth $588,000. JPMorgan Chase & Co. bought a new stake in Oruka Therapeutics in the fourth quarter worth $54,000. Finally, Barclays PLC bought a new stake in Oruka Therapeutics in the fourth quarter worth $1,446,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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