Oruka Therapeutics’ (ORKA) Outperform Rating Reiterated at Wedbush

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a report issued on Tuesday, Benzinga reports. They presently have a $165.00 target price on the stock. Wedbush‘s price target would suggest a potential upside of 73.58% from the company’s current price.

ORKA has been the subject of several other reports. UBS Group lifted their price objective on Oruka Therapeutics from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Mizuho set a $120.00 price objective on Oruka Therapeutics in a report on Thursday, September 3rd. BTIG Research reaffirmed a “buy” rating and set a $151.00 price objective on shares of Oruka Therapeutics in a report on Monday, October 19th. HC Wainwright reaffirmed a “buy” rating on shares of Oruka Therapeutics in a report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Oruka Therapeutics in a report on Wednesday, October 7th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $95.06 on Tuesday. Oruka Therapeutics has a 1-year low of $25.23 and a 1-year high of $115.51. The stock’s 50 day moving average price is $89.24 and its 200 day moving average price is $67.88.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.04). As a group, sell-side analysts forecast that Oruka Therapeutics will post -2.42 EPS for the current fiscal year.

Insider Activity at Oruka Therapeutics

In related news, CEO Lawrence Klein sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total value of $6,887,250.00. Following the completion of the transaction, the chief executive officer directly owned 925,580 shares in the company, valued at approximately $84,996,011.40. This represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $92.38, for a total value of $734,143.86. Following the sale, the insider directly owned 31,771 shares of the company’s stock, valued at approximately $2,935,004.98. This trade represents a 20.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 154,950 shares of company stock worth $14,102,680. 23.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oruka Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Oruka Therapeutics in the second quarter worth about $474,916,000. Remedium Capital Partners LLC lifted its stake in shares of Oruka Therapeutics by 0.9% in the first quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company’s stock worth $76,796,000 after acquiring an additional 13,247 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Oruka Therapeutics in the second quarter worth about $130,968,000. Avidity Partners Management LP lifted its stake in shares of Oruka Therapeutics by 15.1% in the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company’s stock worth $37,299,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in Oruka Therapeutics by 2.6% during the first quarter. Candriam S.C.A. now owns 411,006 shares of the company’s stock valued at $20,160,000 after buying an additional 10,497 shares in the last quarter. Hedge funds and other institutional investors own 56.44% of the company’s stock.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company is focused on creating treatments that may provide durable disease control while reducing the frequency of administration compared with conventional biologic therapies.

Oruka’s pipeline is centered on engineered monoclonal antibodies that target the interleukin-17 (IL-17) pathway, an important driver of inflammation in conditions such as psoriasis and other autoimmune diseases.