Oruka Therapeutics' (ORKA) "Outperform" Rating Reiterated at Wedbush

Key Points

• Wedbush has reiterated its "outperform" rating for Oruka Therapeutics (ORKA) with a price target of $40.00, indicating a potential upside of 201.20% from the last closing price.
• Oruka Therapeutics reported an earnings per share (EPS) of ($0.46) for the last quarter, surpassing the consensus estimate of ($0.48).
• Institutional investors have been increasing their stakes in Oruka Therapeutics, with 56.44% of the stock currently owned by hedge funds and institutional investors.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $40.00 price objective on the stock. Wedbush's target price suggests a potential upside of 201.20% from the company's previous close.

Several other equities research analysts have also commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a research report on Wednesday, July 23rd. BTIG Research started coverage on Oruka Therapeutics in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, Wall Street Zen upgraded Oruka Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $40.38.

Oruka Therapeutics Price Performance

Shares of NASDAQ ORKA traded up $0.23 during trading on Tuesday, hitting $13.28. 65,556 shares of the company were exchanged, compared to its average volume of 250,739. The company has a market cap of $497.20 million, a price-to-earnings ratio of -2.94 and a beta of -0.35. Oruka Therapeutics has a 1 year low of $5.49 and a 1 year high of $52.32. The firm's fifty day moving average price is $13.12 and its 200 day moving average price is $11.44.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.02. On average, research analysts forecast that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Oruka Therapeutics by 17.7% during the 4th quarter. FMR LLC now owns 5,512,300 shares of the company's stock worth $106,883,000 after acquiring an additional 830,000 shares during the period. Fairmount Funds Management LLC increased 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 worth $65,382,000 after buying an additional 160,000 shares during the last quarter. VR Adviser LLC increased its holdings in shares of 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 buying an additional 200,000 shares during the last quarter. RTW Investments LP increased its holdings in shares of 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 buying an additional 95,001 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 1,572,853 shares during the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

About Oruka Therapeutics

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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