Wolfe Research Upgrades Oruka Therapeutics (NASDAQ:ORKA) to “Strong-Buy”

Wolfe Research upgraded shares of Oruka Therapeutics (NASDAQ:ORKA) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Oruka Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research report on Friday, December 20th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $39.86.

Oruka Therapeutics Price Performance

NASDAQ:ORKA opened at $14.21 on Monday. The firm has a market capitalization of $497.35 million, a PE ratio of -2.27 and a beta of 0.77. The business has a fifty day moving average of $18.09. Oruka Therapeutics has a 12 month low of $10.95 and a 12 month high of $53.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORKA. AlphaCentric Advisors LLC bought a new position in shares of Oruka Therapeutics in the 4th quarter worth $119,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Oruka Therapeutics during the 4th quarter valued at $144,000. Geode Capital Management LLC bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $343,000. The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $1,037,000. Finally, Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $2,013,000. 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.