Wedbush Reiterates “Outperform” Rating for Oruka Therapeutics (NASDAQ:ORKA)

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Friday,RTT News reports. They presently have a $40.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 282.96% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wolfe Research began coverage on Oruka Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday, February 7th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Oruka Therapeutics presently has an average rating of “Buy” and a consensus price target of $39.86.

Oruka Therapeutics Trading Up 3.7 %

Shares of NASDAQ ORKA traded up $0.38 during midday trading on Friday, hitting $10.45. 94,703 shares of the company’s stock were exchanged, compared to its average volume of 208,159. The firm has a fifty day moving average price of $13.44. The stock has a market capitalization of $365.56 million, a P/E ratio of -1.66 and a beta of 0.67. Oruka Therapeutics has a 12-month low of $9.44 and a 12-month high of $31.13.

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

Insider Transactions at Oruka Therapeutics

In other news, major shareholder Venrock Healthcare Capital Par purchased 88,794 shares of the business’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 completion of the acquisition, the insider now directly owns 4,148,428 shares in the company, valued at $47,458,016.32. This represents a 2.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 98,339 shares of company stock valued at $1,128,456 in the last ninety days. 22.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Oruka Therapeutics by 17.7% in the fourth quarter. FMR LLC now owns 5,512,300 shares of the company’s stock worth $106,883,000 after purchasing an additional 830,000 shares during the last quarter. Fairmount Funds Management LLC boosted its holdings in shares of Oruka Therapeutics by 5.0% in the fourth quarter. Fairmount Funds Management LLC now owns 3,371,922 shares of the company’s stock worth $65,382,000 after buying an additional 160,000 shares during the last quarter. VR Adviser LLC grew its position in Oruka Therapeutics by 6.5% during the fourth quarter. VR Adviser LLC now owns 3,285,620 shares of the company’s stock valued at $63,708,000 after buying an additional 200,000 shares during the period. RTW Investments LP grew its position in Oruka Therapeutics by 5.1% during the fourth quarter. RTW Investments LP now owns 1,945,649 shares of the company’s stock valued at $37,726,000 after buying an additional 95,001 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Oruka Therapeutics by 4,161.2% during the fourth quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company’s stock valued at $31,231,000 after buying an additional 1,572,853 shares during the last quarter. 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.