Oruka Therapeutics (NASDAQ:ORKA) Sets New 52-Week Low - What's Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report)'s share price hit a new 52-week low on Friday . The company traded as low as $12.37 and last traded at $12.60, with a volume of 297315 shares changing hands. The stock had previously closed at $13.97.

Wall Street Analysts Forecast Growth

ORKA has been the topic of several research reports. Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Stifel Nicolaus initiated coverage on Oruka Therapeutics in a research note on Friday, October 11th. They set a "buy" rating and a $49.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $43.17.

Oruka Therapeutics Trading Down 2.8 %

The business's fifty day moving average price is $20.38. The company has a market cap of $428.75 million, a price-to-earnings ratio of -1.96 and a beta of 0.81.

Hedge Funds Weigh In On Oruka Therapeutics

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics in the third quarter worth $1,037,000. FMR LLC acquired a new stake in Oruka Therapeutics in the 3rd quarter valued at $114,763,000. Great Point Partners LLC bought a new stake in Oruka Therapeutics during the 3rd quarter worth about $12,614,000. Braidwell LP acquired a new position in shares of Oruka Therapeutics during the 3rd quarter worth about $12,640,000. Finally, Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $5,840,000. 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.