Oruka Therapeutics (NASDAQ:ORKA) Trading Down 9.4% - Here's Why

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) shares fell 9.4% during trading on Wednesday . The stock traded as low as $14.09 and last traded at $14.05. 64,375 shares were traded during mid-day trading, a decline of 75% from the average session volume of 254,352 shares. The stock had previously closed at $15.50.

Wall Street Analyst Weigh In

Several brokerages have commented on ORKA. Wall Street Zen raised Oruka Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. HC Wainwright reissued a "buy" rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Monday, July 21st. Finally, BTIG Research assumed coverage on Oruka Therapeutics in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $40.38.

Oruka Therapeutics Stock Down 10.4%

The stock has a market cap of $520.23 million, a PE ratio of -3.08 and a beta of -0.35. The stock has a 50-day moving average of $12.97 and a 200 day moving average of $11.42.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. Research analysts forecast that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ORKA. JPMorgan Chase & Co. acquired a new stake in Oruka Therapeutics during the fourth quarter worth $54,000. Squarepoint Ops LLC acquired a new stake in Oruka Therapeutics during the fourth quarter worth $236,000. Wellington Management Group LLP increased its stake in Oruka Therapeutics by 15.8% during the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company's stock worth $1,844,000 after acquiring an additional 12,952 shares during the last quarter. AlphaQuest LLC acquired a new stake in Oruka Therapeutics during the first quarter worth $168,000. Finally, Jane Street Group LLC acquired a new stake in Oruka Therapeutics during the fourth quarter worth $343,000. Hedge funds and other 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.

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