Wolfe Research Initiates Coverage on Oruka Therapeutics (NASDAQ:ORKA)

Wolfe Research began coverage on shares of Oruka Therapeutics (NASDAQ:ORKA) in a report released on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $20.00 price target on the stock.

ORKA has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Friday, December 20th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Finally, Stifel Nicolaus assumed coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $49.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $39.86.

Oruka Therapeutics Stock Up 3.7 %

Oruka Therapeutics stock opened at $14.21 on Tuesday. The firm has a market cap of $497.35 million, a P/E ratio of -2.27 and a beta of 0.77. Oruka Therapeutics has a 12-month low of $10.95 and a 12-month high of $53.88. The company’s fifty day moving average is $18.09.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORKA. AlphaCentric Advisors LLC purchased a new stake in shares of Oruka Therapeutics during the 4th quarter valued at approximately $119,000. China Universal Asset Management Co. Ltd. bought a new stake in Oruka Therapeutics during the 4th quarter valued at $144,000. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter worth $343,000. The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics in the third quarter worth $1,037,000. Finally, Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics in the third quarter valued at $2,013,000. Institutional investors own 56.44% of the company’s stock.

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.