Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year Low – Time to Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $18.23 and last traded at $18.33, with a volume of 7234 shares. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ORKA. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Oruka Therapeutics in a report on Monday. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus began coverage on shares of Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 price target for the company. Lifesci Capital began coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $40.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Stock Performance

The stock’s 50-day moving average price is $25.76. The company has a market cap of $709.08 million, a PE ratio of -3.24 and a beta of 0.87.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Great Point Partners LLC bought a new position in Oruka Therapeutics in the 3rd quarter valued at about $12,614,000. Geode Capital Management LLC bought a new position in Oruka Therapeutics in the 3rd quarter valued at about $343,000. Franklin Resources Inc. bought a new position in Oruka Therapeutics in the 3rd quarter valued at about $17,661,000. Wellington Management Group LLP bought a new position in Oruka Therapeutics in the 3rd quarter valued at about $2,013,000. Finally, The Manufacturers Life Insurance Company bought a new position in Oruka Therapeutics in the 3rd quarter valued at about $1,037,000. Institutional investors own 56.44% of the company’s stock.

About Oruka Therapeutics

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.