Oruka Therapeutics (NASDAQ:ORKA) Hits New 12-Month High – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA) hit a new 52-week high during trading on Thursday . The company traded as high as $31.07 and last traded at $30.9690, with a volume of 114329 shares trading hands. The stock had previously closed at $29.60.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORKA. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Wednesday, October 8th. HC Wainwright cut their price target on shares of Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Jefferies Financial Group began coverage on Oruka Therapeutics in a report on Thursday, November 13th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.14.

Oruka Therapeutics Stock Up 3.3%

The stock has a market cap of $1.48 billion, a PE ratio of -16.09 and a beta of -0.41. The business’s 50-day simple moving average is $25.99 and its 200-day simple moving average is $17.97.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.01. As a group, equities research analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORKA. Franklin Resources Inc. lifted its position in shares of Oruka Therapeutics by 40.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,012,968 shares of the company’s stock worth $11,355,000 after purchasing an additional 292,421 shares during the period. ADAR1 Capital Management LLC bought a new position in shares of Oruka Therapeutics during the 1st quarter valued at approximately $1,362,000. Affinity Asset Advisors LLC lifted its stake in shares of Oruka Therapeutics by 47.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 545,362 shares of the company’s stock worth $5,595,000 after acquiring an additional 176,664 shares during the last quarter. Braidwell LP boosted its stake in shares of Oruka Therapeutics by 37.0% during the first quarter. Braidwell LP now owns 1,572,426 shares of the company’s stock valued at $16,133,000 after purchasing an additional 424,750 shares during the period. Finally, Candriam S.C.A. purchased a new position in Oruka Therapeutics in the 1st quarter worth about $1,197,000. 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.