Oruka Therapeutics, Inc. (NASDAQ:ORKA) Receives Average Rating of “Buy” from Brokerages

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) have earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $39.86.

A number of equities research analysts have recently commented on ORKA shares. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Friday, February 7th. Finally, Wolfe Research started coverage on shares of Oruka Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $20.00 price objective on the stock.

Oruka Therapeutics Trading Down 0.4 %

ORKA opened at $11.09 on Wednesday. Oruka Therapeutics has a 52-week low of $9.44 and a 52-week high of $31.13. The firm’s 50-day moving average is $12.41. The firm has a market capitalization of $415.22 million, a P/E ratio of -1.77 and a beta of 0.67.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.19. On average, research analysts expect that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Insider Activity

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par bought 88,794 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $11.44 per share, for a total transaction of $1,015,803.36. Following the transaction, the insider now directly owns 4,148,428 shares of the company’s stock, valued at approximately $47,458,016.32. This represents a 2.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired 98,339 shares of company stock worth $1,128,456 in the last quarter. Corporate insiders own 22.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in Oruka Therapeutics in the 4th quarter valued at $54,000. AlphaCentric Advisors LLC purchased a new position in Oruka Therapeutics in the 4th quarter valued at $119,000. China Universal Asset Management Co. Ltd. purchased a new position in Oruka Therapeutics in the 4th quarter valued at $144,000. Squarepoint Ops LLC purchased a new position in Oruka Therapeutics in the 4th quarter valued at $236,000. Finally, Geode Capital Management LLC purchased a new position in Oruka Therapeutics in the 3rd quarter valued at $343,000. Hedge funds and other 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.