Oruka Therapeutics (NASDAQ:ORKA) Trading Up 7.5% - Should You Buy?

Key Points

• Oruka Therapeutics shares rose 7.5% to $24.31 on Thursday, with trading volume increasing by 41% compared to the average daily volume.
• Analysts have mixed ratings on the stock, with one Strong Buy, four Buy, and one Sell rating, resulting in a consensus evaluation of "Moderate Buy" and an average target price of $42.00.
• The company recently reported a loss of ($0.46) earnings per share, slightly beating analyst expectations, and is forecasted to post a further loss of -3.41 earnings per share this fiscal year.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares were up 7.5% on Thursday . The stock traded as high as $24.57 and last traded at $24.31. Approximately 383,459 shares were traded during trading, an increase of 41% from the average daily volume of 272,585 shares. The stock had previously closed at $22.62.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Oruka Therapeutics in a research note on Wednesday. Wedbush reissued an "outperform" rating and set a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Wall Street Zen raised Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. HC Wainwright reaffirmed a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Monday, August 18th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $56.00 price target on shares of Oruka Therapeutics in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oruka Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Oruka Therapeutics Stock Up 13.0%

The company has a 50 day simple moving average of $16.08 and a 200-day simple moving average of $12.92. The stock has a market capitalization of $956.85 million, a price-to-earnings ratio of -9.09 and a beta of -0.29.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.02. As a group, sell-side analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

Several institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC bought a new position in Oruka Therapeutics during the 1st quarter worth approximately $1,362,000. Affinity Asset Advisors LLC boosted its stake in shares of Oruka Therapeutics by 47.9% in the first quarter. Affinity Asset Advisors LLC now owns 545,362 shares of the company's stock worth $5,595,000 after acquiring an additional 176,664 shares during the period. Braidwell LP boosted its stake in shares of Oruka Therapeutics by 37.0% in the first quarter. Braidwell LP now owns 1,572,426 shares of the company's stock worth $16,133,000 after acquiring an additional 424,750 shares during the period. OMERS ADMINISTRATION Corp lifted its position in shares of Oruka Therapeutics by 126.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 44,900 shares of the company's stock worth $461,000 after buying an additional 25,100 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Oruka Therapeutics in the first quarter worth about $1,197,000. 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.

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