Oruka Therapeutics’ (ORKA) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Oruka Therapeutics (NASDAQ:ORKA) in a research report report published on Tuesday,Benzinga reports. They currently have a $165.00 price objective on the stock.

ORKA has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Tuesday, October 13th. Guggenheim reaffirmed a “buy” rating and issued a $200.00 price target on shares of Oruka Therapeutics in a research note on Monday. Piper Sandler reiterated an “overweight” rating on shares of Oruka Therapeutics in a report on Wednesday, October 7th. Mizuho set a $120.00 price objective on shares of Oruka Therapeutics in a research report on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Oruka Therapeutics Price Performance

Shares of ORKA opened at $96.65 on Tuesday. The business’s 50 day simple moving average is $88.63 and its 200-day simple moving average is $68.57. Oruka Therapeutics has a one year low of $25.23 and a one year high of $115.51.

Oruka Therapeutics (NASDAQ:ORKA) last released its earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). On average, sell-side analysts predict that Oruka Therapeutics will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joana Goncalves sold 7,947 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $92.38, for a total value of $734,143.86. Following the sale, the insider owned 31,771 shares in the company, valued at approximately $2,935,004.98. This represents a 20.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Agarwal sold 10,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $106.66, for a total transaction of $1,066,600.00. Following the completion of the transaction, the senior vice president directly owned 15,312 shares in the company, valued at $1,633,177.92. The trade was a 39.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 154,950 shares of company stock valued at $14,102,680 over the last 90 days. 23.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ORKA. BlackRock Inc. bought a new position in Oruka Therapeutics during the second quarter valued at $474,916,000. Jupiter Topco LLC bought a new stake in shares of Oruka Therapeutics in the second quarter valued at $130,968,000. Remedium Capital Partners LLC raised its stake in shares of Oruka Therapeutics by 0.9% in the first quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock valued at $76,796,000 after buying an additional 13,247 shares during the period. Avidity Partners Management LP raised its stake in shares of Oruka Therapeutics by 15.1% in the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock valued at $37,299,000 after buying an additional 100,000 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Oruka Therapeutics during the 2nd quarter valued at $33,578,000. Institutional investors own 56.44% of the company’s stock.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company is focused on creating treatments that may provide durable disease control while reducing the frequency of administration compared with conventional biologic therapies.

Oruka’s pipeline is centered on engineered monoclonal antibodies that target the interleukin-17 (IL-17) pathway, an important driver of inflammation in conditions such as psoriasis and other autoimmune diseases.