Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year Low - What's Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares reached a new 52-week low on Friday . The company traded as low as $17.20 and last traded at $17.20, with a volume of 41956 shares. The stock had previously closed at $19.01.

Wall Street Analyst Weigh In

ORKA has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a research note on Friday, September 13th. They issued a "buy" rating and a $40.00 price objective for the company. Stifel Nicolaus began coverage on shares of Oruka Therapeutics in a research note on Friday, October 11th. They set a "buy" rating and a $49.00 price target for the company. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. 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 on the stock. Finally, Leerink Partnrs upgraded Oruka Therapeutics to a "strong-buy" rating in a research note on Tuesday, September 17th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $43.17.

Oruka Therapeutics Price Performance

The firm has a 50 day moving average price of $21.95. The company has a market capitalization of $550.18 million, a P/E ratio of -2.51 and a beta of 0.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC bought a new stake in shares of Oruka Therapeutics during the third quarter worth $343,000. The Manufacturers Life Insurance Company acquired a new position in Oruka Therapeutics during the 3rd quarter valued at about $1,037,000. Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $2,013,000. Janus Henderson Group PLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth approximately $5,840,000. Finally, Redmile Group LLC bought a new stake in shares of Oruka Therapeutics during the third quarter worth approximately $10,091,000. 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.