Wedbush Reiterates Outperform Rating for Oruka Therapeutics (NASDAQ:ORKA)

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They currently have a $40.00 price objective on the stock. Wedbush's price target would indicate a potential upside of 190.49% from the stock's current price.

ORKA has been the subject of a number of other research reports. Wall Street Zen upgraded Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $40.38.

Oruka Therapeutics Price Performance

Shares of ORKA traded down $0.77 during trading hours on Monday, hitting $13.77. The stock had a trading volume of 236,288 shares, compared to its average volume of 234,552. The company's fifty day moving average is $12.07 and its two-hundred day moving average is $11.58. The stock has a market capitalization of $515.55 million, a price-to-earnings ratio of -3.05 and a beta of -0.34. Oruka Therapeutics has a 52 week low of $5.49 and a 52 week high of $31.13.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. Equities analysts predict that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Oruka Therapeutics

Several large investors have recently bought and sold shares of ORKA. JPMorgan Chase & Co. purchased a new position in shares of Oruka Therapeutics during the 4th quarter valued at approximately $54,000. Squarepoint Ops LLC purchased a new stake in Oruka Therapeutics during the fourth quarter worth approximately $236,000. Wellington Management Group LLP lifted its stake in Oruka Therapeutics by 15.8% in the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company's stock valued at $1,844,000 after buying an additional 12,952 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Oruka Therapeutics in the fourth quarter valued at about $303,000. Finally, AlphaQuest LLC purchased a new position in Oruka Therapeutics in the 1st quarter valued at $168,000. Institutional investors own 56.44% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.