Oruka Therapeutics (NASDAQ:ORKA) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Oruka Therapeutics (NASDAQ:ORKA) issued its quarterly earnings results on Wednesday. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.01, Zacks reports.

Oruka Therapeutics Stock Performance

Shares of Oruka Therapeutics stock opened at $28.30 on Thursday. The company has a market cap of $1.18 billion, a P/E ratio of -10.07 and a beta of -0.30. The firm has a fifty day moving average of $22.16 and a two-hundred day moving average of $16.01. Oruka Therapeutics has a one year low of $5.49 and a one year high of $29.86.

Institutional Trading of Oruka Therapeutics

Several hedge funds have recently modified their holdings of ORKA. Legal & General Group Plc acquired a new stake in Oruka Therapeutics in the second quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in shares of Oruka Therapeutics by 464.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after acquiring an additional 2,306 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Oruka Therapeutics in the 3rd quarter worth approximately $39,000. Russell Investments Group Ltd. purchased a new position in Oruka Therapeutics in the 3rd quarter valued at approximately $43,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Oruka Therapeutics in the 2nd quarter worth about $96,000. 56.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORKA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Wednesday, October 8th. Guggenheim initiated coverage on Oruka Therapeutics in a research note on Monday, October 27th. They set a “buy” rating and a $60.00 target price for the company. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a report on Thursday. They set a “buy” rating and a $45.00 price objective on the stock. Barclays assumed coverage on shares of Oruka Therapeutics in a research note on Monday, October 13th. They set an “overweight” rating and a $48.00 price target on the stock. Finally, BTIG Research raised their price objective on Oruka Therapeutics from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.14.

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.