Oruka Therapeutics (NASDAQ:ORKA) Hits New 12-Month High – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price reached a new 52-week high during 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.

Analysts Set New Price Targets

ORKA has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, August 12th. BTIG Research restated a “buy” rating and set a $56.00 price target on shares of Oruka Therapeutics in a research report on Monday, September 29th. Guggenheim assumed coverage on Oruka Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $60.00 price objective for the company. HC Wainwright decreased their target price on Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Finally, Wall Street Zen raised Oruka Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.00.

Oruka Therapeutics Stock Performance

The stock has a 50-day simple moving average of $21.39 and a 200 day simple moving average of $15.60. The stock has a market capitalization of $1.15 billion, a P/E ratio of -9.88 and a beta of -0.30.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.02. Equities analysts predict that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current year.

Institutional Investors Weigh In On Oruka Therapeutics

Several institutional investors have recently modified their holdings of ORKA. Legal & General Group Plc acquired a new position in Oruka Therapeutics in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Oruka Therapeutics during the 2nd quarter valued at $31,000. 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. PNC Financial Services Group Inc. acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $39,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Oruka Therapeutics in the 2nd quarter worth $68,000. Institutional investors and hedge funds 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.