Oruka Therapeutics (NASDAQ:ORKA) Shares Down 3.2% – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded down 3.2% during trading on Thursday . The stock traded as low as $20.33 and last traded at $20.46. 9,646 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 93,109 shares. The stock had previously closed at $21.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Leerink Partnrs raised shares of Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group started coverage on Oruka Therapeutics in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Lifesci Capital began coverage on Oruka Therapeutics in a research note on Monday, September 16th. They issued an “outperform” rating and a $41.00 target price for the company. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Finally, Stifel Nicolaus initiated coverage on shares of Oruka Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $49.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Trading Down 1.3 %

The company has a market cap of $730.08 million, a price-to-earnings ratio of -3.33 and a beta of 0.78. The company has a 50 day simple moving average of $24.13.

Institutional Investors Weigh In On Oruka Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ORKA. Geode Capital Management LLC bought a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $343,000. The Manufacturers Life Insurance Company bought a new position in Oruka Therapeutics during the third quarter valued at about $1,037,000. Wellington Management Group LLP acquired a new position in shares of Oruka Therapeutics in the 3rd quarter worth approximately $2,013,000. Janus Henderson Group PLC bought a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $5,840,000. Finally, Redmile Group LLC acquired a new stake in shares of Oruka Therapeutics during the third quarter worth $10,091,000. 56.44% of the stock is currently owned by institutional investors.

Oruka Therapeutics Company Profile

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.