Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 7.8% – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price fell 7.8% during mid-day trading on Monday . The company traded as low as $14.41 and last traded at $14.50. 18,815 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 200,898 shares. The stock had previously closed at $15.72.

Analyst Ratings Changes

A number of equities analysts recently commented on ORKA shares. Lifesci Capital started coverage on Oruka Therapeutics in a research note on Monday, September 16th. They issued an “outperform” rating and a $41.00 price target for the company. Leerink Partners began coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price for the company. Stifel Nicolaus started coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company. 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. Finally, TD Cowen initiated coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Price Performance

The company has a market cap of $489.29 million, a price-to-earnings ratio of -2.23 and a beta of 0.81. The company’s fifty day moving average is $21.72.

Institutional Trading of Oruka Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ORKA. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics during the third quarter worth approximately $17,661,000. Geode Capital Management LLC acquired a new position in Oruka Therapeutics in the 3rd quarter valued at $343,000. Frazier Life Sciences Management L.P. bought a new stake in Oruka Therapeutics during the 3rd quarter valued at approximately $11,699,000. Wellington Management Group LLP bought a new stake in Oruka Therapeutics in the 3rd quarter valued at $2,013,000. Finally, RTW Investments LP acquired a new position in shares of Oruka Therapeutics in the third quarter valued at $45,359,000. Institutional investors and hedge funds 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.