Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Oruka Therapeutics in a research report on Monday, October 27th. They set a “buy” rating and a $60.00 price objective for the company. BTIG Research reissued a “buy” rating and issued a $56.00 price target on shares of Oruka Therapeutics in a research note on Monday, September 29th. HC Wainwright cut their price target on shares of Oruka Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, October 27th. Wall Street Zen upgraded Oruka Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Barclays started coverage on Oruka Therapeutics in a research report on Monday, October 13th. They issued an “overweight” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Oruka Therapeutics Stock Up 1.3%

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -10.12 and a beta of -0.30. The business’s 50-day simple moving average is $21.90 and its two-hundred day simple moving average is $15.92.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.02. Sell-side analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC purchased a new stake in shares of Oruka Therapeutics in the 1st quarter valued at $1,362,000. Affinity Asset Advisors LLC grew its position in Oruka Therapeutics by 47.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 545,362 shares of the company’s stock valued at $5,595,000 after acquiring an additional 176,664 shares in the last quarter. Braidwell LP increased its stake in Oruka Therapeutics by 37.0% during the first quarter. Braidwell LP now owns 1,572,426 shares of the company’s stock worth $16,133,000 after purchasing an additional 424,750 shares during the period. Aberdeen Group plc purchased a new stake in Oruka Therapeutics during the second quarter worth about $879,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Oruka Therapeutics by 126.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 44,900 shares of the company’s stock worth $461,000 after purchasing an additional 25,100 shares in the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

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.