Oruka Therapeutics (NASDAQ:ORKA) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

Oruka Therapeutics, Inc. (NASDAQ:ORKA – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.85 and last traded at $30.79, with a volume of 375492 shares traded. The stock had previously closed at $31.44.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORKA. Jefferies Financial Group initiated coverage on shares of Oruka Therapeutics in a research report on Thursday, November 13th. They set a “buy” rating and a $45.00 target price for the company. Wall Street Zen cut shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research note on Wednesday, October 8th. Barclays started coverage on Oruka Therapeutics in a research report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. Finally, HC Wainwright reduced their price objective on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $45.14.

Read Our Latest Stock Analysis on Oruka Therapeutics

Oruka Therapeutics Price Performance

The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -15.90 and a beta of -0.41. The stock’s 50-day moving average is $27.57 and its 200-day moving average is $18.76.

Oruka Therapeutics (NASDAQ:ORKA – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.01. Analysts predict that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Institutional Trading of Oruka Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Viking Global Investors LP purchased a new stake in Oruka Therapeutics in the 3rd quarter valued at about $51,280,000. Avoro Capital Advisors LLC acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $25,640,000. Deep Track Capital LP grew its stake in shares of Oruka Therapeutics by 38.4% during the 3rd quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock valued at $51,051,000 after buying an additional 735,983 shares during the period. Braidwell LP increased its holdings in shares of Oruka Therapeutics by 37.0% during the 1st quarter. Braidwell LP now owns 1,572,426 shares of the company’s stock worth $16,133,000 after buying an additional 424,750 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Oruka Therapeutics by 100.6% during the 2nd quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock worth $7,932,000 after buying an additional 354,821 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

(Get Free Report)

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.

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