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Oruka Therapeutics, Inc.(ORKA)

Top Performer Top performer
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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
5-STAR RATING
PASS
LAST CLOSE
$84.19
09/28/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for ORKA

09/28/2026: ORKA (5-star) is currently NOT-A-BUY. Pass it for now.

Oruka Therapeutics is a clinical-stage biotechnology company that emerged in 2024 to focus on developing next-generation biologics for chronic skin conditions. Its main strength lies in a specialized pipeline targeting the IL-23 pathway, with a focus on improving patient convenience through reduced dosing frequency. The investment story centers on the potential of ORKA-001 and ORKA-002 to compete with established biologics. However, the company faces significant risks, including the inherent uncertainty of clinical development, lack of current revenue, and intense competition from industry incumbents. This stock is best suited for risk-tolerant, long-term biotech investors who should closely monitor clinical trial updates and potential strategic partnerships.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers high growth potential linked to clinical success but carries significant binary development risk.
Momentum investorMixed fitMomentum may be driven by clinical data readouts rather than traditional financial trends.
Value investorWeak fitThe company lacks stable cash flows or earnings, making traditional value metrics inapplicable.
Dividend investorWeak fitThe company does not pay dividends and prioritizes R&D capital expenditure.
Low-risk investorWeak fitHigh clinical and regulatory uncertainty makes this unsuitable for conservative portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighClinical-stage biotech stocks frequently experience significant price swings based on trial results and regulatory news.
Valuation riskMedium / highValuations are highly speculative and contingent on future successful product commercialization.
Competition risk (Biologics incumbents)HighWell-capitalized competitors dominate the dermatology market, creating high barriers to entry.
Business qualityMediumThe company is in the early stages of establishing its franchise and operational footprint.
Dividend incomeLow / noneNo dividend payments are anticipated in the foreseeable future.
Execution riskHighThe primary risk is the successful execution of complex clinical trials and subsequent regulatory approval.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit 493.68%
Avg. Invested days 40
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
ORKA receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, and weak price momentum.

Company Fundamentals

★★★★★
ORKA has moderate overall fundamentals (3 stars), with moderate financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-25.9%), soft cash generation (FCF margin 0.0%), slightly negative revenue growth (+0.0%).

Financial Health Rating

★★★★★
ORKA's financial health is supported by strong efficiency, including operating-expense and cost-of-revenue discipline (opex 0.0% of revenue). Profitability is weak (1 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
ORKA's growth profile is soft, with the least-weak measure being revenue growth at +0.0% FY2025 versus FY2024. By comparison, while earnings growth (-25.9%, negative) and free-cash-flow growth (-52.4%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 116.6% and approximately 85.9% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 1.26% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

FMR Inc 11.22%
VR Adviser, LLC 6.27%
Fairmount Funds Management LLC 5.60%
BlackRock Inc 5.33%
Capital World Investors 5.14%

Unit Economics (Per $1K Revenue)

★★★★★
ORKA generates approximately $-0 of gross profit, $-0 of operating income, and $-0 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Weak margins explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
ORKA has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Low VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 5.57B USD
Price to earnings Ratio -
1Y Target Price 155
Price to earnings Ratio -
1Y Target Price 155
Volume (30-day avg) 899.7K shares
Beta -0.21
52 Weeks Range 18.19 - 115.52
Updated Date 09/29/2026
52 Weeks Range 18.19 - 115.52
Updated Date 09/29/2026
Dividends yield (FY) -
Basic EPS (TTM) -2.04

How Company Makes Money

Business areaWhat it includesRetail investor read
Clinical DevelopmentAdvancing IL-23p19 inhibitor assets toward potential regulatory approval.The company currently spends money to develop medicine and expects to earn revenue only after successfully bringing products to market.
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Valuation

Trailing PE -
Forward PE -
Enterprise Value 5.08B
Price to Sales(TTM) -
Enterprise Value 5.08B
Price to Sales(TTM) -
Enterprise Value to Revenue -
Enterprise Value to EBITDA -
Shares Outstanding 66.21M
Shares Floating 56.89M
Shares Outstanding 66.21M
Shares Floating 56.89M
Percent Insiders 1.26
Percent Institutions 116.6

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Oruka Therapeutics, Inc.

Exchange NASDAQ
Headquarters Menlo Park, CA, United States
IPO Launch date 1997-08-08
President, CEO & Director Dr. Lawrence Otto Klein Ph.D.
Sector Healthcare
Industry Biotechnology
Full time employees 68
Full time employees 68

Oruka Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing novel monoclonal antibody therapeutics for psoriasis (PsO), and other inflammatory and immunology (I&I) indications. Its lead products include ORKA-001 that targets p19 subunit of interleukin-23, which is in phase 2a trial for the treatment of PsO; and ORKA-002 that targets interleukin-17A and interleukin-17F, which is in phase 2 trial for the treatment of PsO, psoriatic arthritis, and other conditions. The company also develops ORKA-003 for targeting an undisclosed pathway; and ORKA-021, a sequential combination regimen of ORKA-002 and ORKA-001. Oruka Therapeutics, Inc. is headquartered in Menlo Park, California.