Franklin Resources Inc. Invests $17.66 Million in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Franklin Resources Inc. bought a new stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 720,547 shares of the company's stock, valued at approximately $17,661,000. Franklin Resources Inc. owned 2.06% of Oruka Therapeutics at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ORKA has been the topic of several recent research reports. Stifel Nicolaus began coverage on shares of Oruka Therapeutics in a research note on Friday, October 11th. They issued a "buy" rating and a $49.00 price target on the stock. Leerink Partners began coverage on Oruka Therapeutics in a research report on Tuesday, September 17th. They set an "outperform" rating and a $44.00 price target for the company. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research report on Friday, September 13th. They set a "buy" rating and a $40.00 price target on the stock. TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a "buy" rating for the company. Finally, Leerink Partnrs upgraded shares of Oruka Therapeutics to a "strong-buy" rating in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $43.17.

Oruka Therapeutics Stock Performance

Shares of Oruka Therapeutics stock traded down $0.45 during midday trading on Friday, hitting $20.31. 2,542,065 shares of the company traded hands, compared to its average volume of 92,164. The business has a fifty day simple moving average of $24.55. The stock has a market capitalization of $710.83 million, a PE ratio of -3.24 and a beta of 0.78. Oruka Therapeutics, Inc. has a 12 month low of $18.20 and a 12 month high of $53.88.

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.