Oruka Therapeutics (NASDAQ:ORKA) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Oruka Therapeutics (NASDAQ:ORKA) posted its quarterly earnings data on Wednesday. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.01, Zacks reports.

Oruka Therapeutics Trading Up 4.3%

ORKA stock traded up $1.14 during trading on Friday, hitting $27.52. The company had a trading volume of 110,874 shares, compared to its average volume of 294,324. The business has a 50 day moving average of $22.39 and a 200 day moving average of $16.08. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.79 and a beta of -0.30. Oruka Therapeutics has a fifty-two week low of $5.49 and a fifty-two week high of $29.98.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays assumed coverage on Oruka Therapeutics in a research note on Monday, October 13th. They issued an “overweight” rating and a $48.00 price target on the stock. Guggenheim began coverage on Oruka Therapeutics in a research report on Monday, October 27th. They issued a “buy” rating and a $60.00 target price for the company. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 12th. Wall Street Zen upgraded Oruka Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, BTIG Research boosted their target price on shares of Oruka Therapeutics from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.14.

Institutional Trading of Oruka Therapeutics

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Oruka Therapeutics during the first quarter valued at approximately $2,505,000. Cable Car Capital LP boosted its stake in Oruka Therapeutics by 33.3% during the 2nd quarter. Cable Car Capital LP now owns 600,000 shares of the company’s stock valued at $6,726,000 after purchasing an additional 150,000 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Oruka Therapeutics by 5.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,065,782 shares of the company’s stock valued at $20,495,000 after purchasing an additional 52,814 shares during the period. Schroder Investment Management Group bought a new stake in shares of Oruka Therapeutics in the 3rd quarter worth $563,000. Finally, Rhumbline Advisers acquired a new stake in shares of Oruka Therapeutics in the second quarter valued at $320,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.