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

Investment analysts at Wolfe Research assumed coverage on shares of Oruka Therapeutics (NASDAQ:ORKA) in a research note issued on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $20.00 price target on the stock. Wolfe Research’s target price would suggest a potential upside of 45.99% from the company’s current price.

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

Oruka Therapeutics Stock Performance

Shares of NASDAQ:ORKA opened at $13.70 on Tuesday. The firm has a fifty day simple moving average of $18.19. Oruka Therapeutics has a twelve month low of $10.95 and a twelve month high of $53.88. The firm has a market capitalization of $479.50 million, a price-to-earnings ratio of -2.19 and a beta of 0.77.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ORKA. AlphaCentric Advisors LLC bought a new position in Oruka Therapeutics in the 4th quarter valued at about $119,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Oruka Therapeutics during the 4th quarter worth approximately $144,000. Geode Capital Management LLC bought a new position in Oruka Therapeutics in the third quarter valued at approximately $343,000. The Manufacturers Life Insurance Company acquired a new position in Oruka Therapeutics during the third quarter valued at approximately $1,037,000. Finally, Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics in the 3rd 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.