Fmr LLC Buys Shares of 4,682,300 Oruka Therapeutics, Inc. (NASDAQ:ORKA)

FMR LLC purchased a new position in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,682,300 shares of the company's stock, valued at approximately $114,763,000. FMR LLC owned 386.97% of Oruka Therapeutics at the end of the most recent reporting period.

Separately, The Manufacturers Life Insurance Company bought a new stake in Oruka Therapeutics during the third quarter valued at about $1,037,000. 56.44% of the stock is currently owned by institutional investors.

Oruka Therapeutics Trading Down 3.0 %

NASDAQ ORKA traded down $0.63 on Thursday, reaching $20.34. 69,423 shares of the stock traded hands, compared to its average volume of 68,499. Oruka Therapeutics, Inc. has a 12 month low of $18.20 and a 12 month high of $53.88. The stock's fifty day simple moving average is $25.34. The company has a market cap of $711.90 million, a P/E ratio of -3.25 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ORKA. Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an "outperform" rating and a $41.00 target price for the company. Wedbush reissued an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Stifel Nicolaus started coverage on Oruka Therapeutics in a report on Friday, October 11th. They issued a "buy" rating and a $49.00 target price on the stock. TD Cowen began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a "buy" rating for the company. Finally, Leerink Partnrs upgraded shares of Oruka Therapeutics to a "strong-buy" rating in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $43.17.

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.