Oruka Therapeutics (NASDAQ:ORKA) Sets New 12-Month High on Earnings Beat

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $29.86 and last traded at $28.2950, with a volume of 48844 shares trading hands. The stock had previously closed at $28.20.

The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.01.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group began coverage on Oruka Therapeutics in a research note on Thursday. They set a “buy” rating and a $45.00 target price for the company. Guggenheim started coverage on Oruka Therapeutics in a report on Monday, October 27th. They set a “buy” rating and a $60.00 price target for the company. Wall Street Zen upgraded Oruka Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays initiated coverage on Oruka Therapeutics in a research report on Monday, October 13th. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, HC Wainwright lowered their target price on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.14.

Institutional Trading of Oruka Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ORKA. PNC Financial Services Group Inc. bought a new position in Oruka Therapeutics in the 3rd quarter valued at approximately $39,000. Russell Investments Group Ltd. acquired a new position in Oruka Therapeutics in the 3rd quarter valued at approximately $43,000. Legal & General Group Plc acquired a new position in Oruka Therapeutics in the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Oruka Therapeutics during the second quarter valued at $31,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Oruka Therapeutics by 464.0% during the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock worth $31,000 after purchasing an additional 2,306 shares during the period. 56.44% of the stock is currently owned by institutional investors.

Oruka Therapeutics Price Performance

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -9.64 and a beta of -0.30. The business’s fifty day moving average price is $22.60 and its 200 day moving average price is $16.20.

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.