Frazier Life Sciences Management L.P. Purchases New Stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Frazier Life Sciences Management L.P. purchased a new stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 477,327 shares of the company's stock, valued at approximately $11,699,000. Frazier Life Sciences Management L.P. owned approximately 39.45% of Oruka Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ORKA. FMR LLC acquired a new stake in Oruka Therapeutics in the 3rd quarter valued at about $114,763,000. RTW Investments LP acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $45,359,000. Braidwell LP acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $12,640,000. Great Point Partners LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $12,614,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $11,822,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORKA. Stifel Nicolaus began coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a "buy" rating and a $49.00 target price on the stock. 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 on the stock. TD Cowen assumed coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a "buy" rating on the stock. Leerink Partnrs upgraded Oruka Therapeutics to a "strong-buy" rating in a research note on Tuesday, September 17th. Finally, Wedbush restated an "outperform" rating and set a $40.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $43.17.

Oruka Therapeutics Price Performance

NASDAQ:ORKA traded up $0.84 during mid-day trading on Tuesday, reaching $23.85. 278,539 shares of the stock were exchanged, compared to its average volume of 70,733. The company has a 50 day moving average of $25.26. The firm has a market capitalization of $834.75 million, a PE ratio of -3.81 and a beta of 0.78. Oruka Therapeutics, Inc. has a 1 year low of $18.20 and a 1 year high of $53.88.

Oruka Therapeutics 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.