Brokerages Set Oruka Therapeutics, Inc. (NASDAQ:ORKA) Target Price at $39.86

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

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

Insider Buying and Selling

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par bought 8,971 shares of Oruka Therapeutics stock in a transaction that occurred on Wednesday, February 12th. The stock was purchased at an average cost of $11.86 per share, for a total transaction of $106,396.06. Following the completion of the acquisition, the insider now owns 4,044,684 shares of the company’s stock, valued at approximately $47,969,952.24. This represents a 0.22 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 98,339 shares of company stock valued at $1,128,456 over the last three months. Company insiders own 22.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new position in shares of Oruka Therapeutics in the 4th quarter worth $54,000. AlphaCentric Advisors LLC acquired a new position in shares of Oruka Therapeutics in the 4th quarter valued at $119,000. China Universal Asset Management Co. Ltd. purchased a new position in Oruka Therapeutics in the 4th quarter worth about $144,000. Squarepoint Ops LLC acquired a new stake in Oruka Therapeutics during the 4th quarter worth about $236,000. Finally, Geode Capital Management LLC purchased a new stake in Oruka Therapeutics during the third quarter valued at about $343,000. Institutional investors own 56.44% of the company’s stock.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $9.51 on Thursday. The firm has a market capitalization of $356.06 million, a P/E ratio of -1.52 and a beta of 0.25. The company has a 50-day simple moving average of $9.96 and a 200-day simple moving average of $15.84. Oruka Therapeutics has a one year low of $5.49 and a one year high of $31.13.

Oruka Therapeutics (NASDAQ:ORKA) last posted its earnings results on Thursday, March 6th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.19. As a group, sell-side analysts forecast that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Oruka Therapeutics Company Profile

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.