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

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “outperform” rating restated by Wedbush in a report released on Thursday, September 24th, Benzinga reports. They currently have a $165.00 target price on the stock. Wedbush’s price target indicates a potential upside of 98.10% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Weiss Ratings upgraded shares of Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Piper Sandler restated an “overweight” rating and issued a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. BTIG Research restated a “buy” rating and issued a $151.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Finally, Guggenheim restated a “buy” rating and issued a $200.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.91.

Oruka Therapeutics Price Performance

ORKA stock opened at $83.29 on Thursday. Oruka Therapeutics has a 12 month low of $18.19 and a 12 month high of $115.51. The firm has a market cap of $5.51 billion, a PE ratio of -41.03 and a beta of -0.34. The firm has a 50 day simple moving average of $96.09 and a 200 day simple moving average of $77.10.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly 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). As a group, sell-side analysts expect that Oruka Therapeutics will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total value of $734,143.86. Following the completion of the sale, the insider owned 31,771 shares in the company, valued at $2,935,004.98. This represents a 20.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 533 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $95.75, for a total transaction of $51,034.75. Following the completion of the sale, the senior vice president owned 14,219 shares of the company’s stock, valued at approximately $1,361,469.25. The trade was a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 122,950 shares of company stock worth $11,528,806 in the last quarter. 23.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oruka Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new position in shares of Oruka Therapeutics during the 2nd quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Oruka Therapeutics during the 4th quarter worth $67,000. Orion Capital Management LLC acquired a new position in shares of Oruka Therapeutics during the 2nd quarter worth $91,000. Royal Bank of Canada increased its stake in shares of Oruka Therapeutics by 178.5% during the 1st quarter. Royal Bank of Canada now owns 3,172 shares of the company’s stock worth $155,000 after purchasing an additional 2,033 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Oruka Therapeutics by 119.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,186 shares of the company’s stock worth $156,000 after purchasing an additional 1,736 shares during the last quarter. Hedge funds and other 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’s approach is designed to extend the duration of treatment and potentially reduce the frequency of dosing for patients with chronic inflammatory conditions.

Oruka’s pipeline includes ORKA-001 and ORKA-002, next-generation monoclonal antibodies targeting interleukin-23 (IL-23), a cytokine involved in several autoimmune and inflammatory diseases.