Wedbush Reiterates Outperform Rating for Oruka Therapeutics (NASDAQ:ORKA)

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They currently have a $40.00 price target on the stock. Wedbush’s price target points to a potential upside of 184.50% from the company’s current price.

ORKA has been the subject of several other reports. Wall Street Zen raised Oruka Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 22nd. BTIG Research started coverage on Oruka Therapeutics in a research report on Thursday, May 22nd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.38.

Oruka Therapeutics Stock Up 2.1%

Shares of Oruka Therapeutics stock opened at $14.06 on Monday. The stock has a market capitalization of $526.41 million, a P/E ratio of -3.12 and a beta of -0.34. The stock has a 50 day moving average price of $12.07 and a two-hundred day moving average price of $11.58. Oruka Therapeutics has a 12-month low of $5.49 and a 12-month high of $31.13.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.17. Sell-side analysts anticipate that Oruka Therapeutics will post -3.41 earnings per share for the current year.

Institutional Investors Weigh In On Oruka Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of Oruka Therapeutics during the 4th quarter worth $54,000. AlphaQuest LLC acquired a new stake in shares of Oruka Therapeutics in the first quarter valued at about $168,000. Cannon Global Investment Management LLC acquired a new stake in shares of Oruka Therapeutics in the first quarter valued at about $195,000. Squarepoint Ops LLC acquired a new stake in shares of Oruka Therapeutics in the fourth quarter valued at about $236,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Oruka Therapeutics in the fourth quarter valued at about $303,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.