Wall Street Zen Upgrades Oruka Therapeutics (NASDAQ:ORKA) to "Hold"

Key Points

• Oruka Therapeutics has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating.
• HC Wainwright maintained a "buy" rating with a target price of $45.00, while BTIG Research increased their target price from $44.00 to $56.00.
• The stock is performing well, currently trading at $15.55, with a consensus target price of $42.00 and strong institutional interest, as 56.44% of shares are held by hedge funds.

Wall Street Zen upgraded shares of Oruka Therapeutics (NASDAQ:ORKA - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Wedbush reiterated an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, August 12th. BTIG Research lifted their price objective on shares of Oruka Therapeutics from $44.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $42.00.

Oruka Therapeutics Stock Performance

Shares of Oruka Therapeutics stock traded down $0.28 on Friday, hitting $16.87. 33,231 shares of the company traded hands, compared to its average volume of 254,739. The stock has a market capitalization of $631.78 million, a P/E ratio of -6.00 and a beta of -0.26. Oruka Therapeutics has a 52 week low of $5.49 and a 52 week high of $31.13. The business has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $12.27.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its quarterly earnings data 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. Research analysts expect that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Institutional Trading of Oruka Therapeutics

Large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of Oruka Therapeutics during the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Oruka Therapeutics during the second quarter valued at $31,000. BNP Paribas Financial Markets lifted its stake in Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock worth $31,000 after acquiring an additional 2,306 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in Oruka Therapeutics in the second quarter worth about $68,000. Finally, New York State Common Retirement Fund purchased a new stake in Oruka Therapeutics in the second quarter worth about $96,000. 56.44% of the stock is 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.