Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 9.4% - What's Next?

Key Points

• Oruka Therapeutics' stock fell by 9.4% to $14.05, with a significant decline in trading volume, showing a 75% drop from its average session volume.
• Wall Street analysts have mixed ratings, with one hold, eight buy, and two strong buy ratings, leading to an average target price of $40.38 for the stock.
• The company reported a quarterly EPS of ($0.40), which exceeded expectations, and is projected to have a fiscal year EPS of -3.41.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report)'s stock price dropped 9.4% during mid-day trading on Wednesday . The company traded as low as $14.09 and last traded at $14.05. Approximately 64,375 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 254,352 shares. The stock had previously closed at $15.50.

Wall Street Analyst Weigh In

ORKA has been the subject of a number of research analyst reports. BTIG Research initiated coverage on Oruka Therapeutics in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research note on Monday, July 21st. Wall Street Zen raised Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, HC Wainwright restated a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Oruka Therapeutics currently has an average rating of "Buy" and a consensus target price of $40.38.

Oruka Therapeutics Price Performance

The business has a 50-day simple moving average of $13.10 and a two-hundred day simple moving average of $11.43. The stock has a market cap of $490.09 million, a price-to-earnings ratio of -2.90 and a beta of -0.35.

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

Institutional Investors Weigh In On Oruka Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Oruka Therapeutics by 17.7% during the fourth quarter. FMR LLC now owns 5,512,300 shares of the company's stock worth $106,883,000 after purchasing an additional 830,000 shares during the last quarter. Fairmount Funds Management LLC boosted its holdings in shares of Oruka Therapeutics by 5.0% during the 4th quarter. Fairmount Funds Management LLC now owns 3,371,922 shares of the company's stock valued at $65,382,000 after acquiring an additional 160,000 shares in the last quarter. VR Adviser LLC raised its position in Oruka Therapeutics by 6.5% during the 4th quarter. VR Adviser LLC now owns 3,285,620 shares of the company's stock worth $63,708,000 after purchasing an additional 200,000 shares during the last quarter. RTW Investments LP raised its position in Oruka Therapeutics by 5.1% during the 4th quarter. RTW Investments LP now owns 1,945,649 shares of the company's stock worth $37,726,000 after purchasing an additional 95,001 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Oruka Therapeutics by 4,161.2% during 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. 56.44% of the stock is currently owned by 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.