Oruka Therapeutics (NASDAQ:ORKA) Hits New 52-Week High – Time to Buy?

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.64 and last traded at $28.35, with a volume of 370125 shares trading hands. The stock had previously closed at $27.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ORKA shares. Barclays began coverage on shares of Oruka Therapeutics in a research report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target on the stock. HC Wainwright dropped their target price on shares of Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Wall Street Zen cut shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Finally, BTIG Research reissued a “buy” rating and issued a $56.00 price objective on shares of Oruka Therapeutics in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Oruka Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Oruka Therapeutics Trading Up 4.1%

The company has a market cap of $1.18 billion, a PE ratio of -10.12 and a beta of -0.30. The company’s 50 day moving average is $20.87 and its 200 day moving average is $15.39.

Oruka Therapeutics (NASDAQ:ORKA) last posted its earnings results on Monday, August 11th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.02. Analysts expect that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ORKA. Rhumbline Advisers lifted its stake in Oruka Therapeutics by 6.1% during the 3rd quarter. Rhumbline Advisers now owns 30,327 shares of the company’s stock valued at $583,000 after acquiring an additional 1,757 shares during the period. Candriam S.C.A. lifted its stake in shares of Oruka Therapeutics by 214.5% in the 3rd quarter. Candriam S.C.A. now owns 366,994 shares of the company’s stock valued at $7,057,000 after purchasing an additional 250,296 shares during the period. Altfest L J & Co. Inc. acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $256,000. Financial Enhancement Group LLC acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $631,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Oruka Therapeutics by 464.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after purchasing an additional 2,306 shares during the period. Hedge funds and other 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.