Analysts Set Oruka Therapeutics, Inc. (NASDAQ:ORKA) PT at $39.86

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.86.

ORKA has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on shares of Oruka Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $20.00 price target for the company. Wedbush reissued an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research note on Friday, February 7th.

Insider Activity at Oruka Therapeutics

In related news, major shareholder Venrock Healthcare Capital Par bought 88,794 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $1,015,803.36. Following the acquisition, the insider now directly owns 4,148,428 shares of the company’s stock, valued at $47,458,016.32. The trade was a 2.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 98,339 shares of company stock valued at $1,128,456 over the last ninety days. Insiders own 22.67% of the company’s stock.

Institutional Investors Weigh In On Oruka Therapeutics

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new stake in Oruka Therapeutics during the 3rd quarter worth about $1,037,000. Wellington Management Group LLP acquired a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $2,013,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $17,661,000. Point72 Asset Management L.P. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $11,822,000. Finally, Geode Capital Management LLC acquired a new position in Oruka Therapeutics in the 3rd quarter worth approximately $343,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

Oruka Therapeutics Price Performance

Shares of Oruka Therapeutics stock opened at $6.78 on Friday. Oruka Therapeutics has a 1-year low of $6.77 and a 1-year high of $31.13. The company has a market capitalization of $253.85 million, a P/E ratio of -1.08 and a beta of 0.47. The business’s fifty day moving average price is $10.99 and its two-hundred day moving average price is $18.27.

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

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.