Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) dropped 4.7% during mid-day trading on Thursday . The company traded as low as $20.33 and last traded at $20.33. Approximately 20,892 shares traded hands during trading, a decline of 74% from the average daily volume of 79,801 shares. The stock had previously closed at $21.34.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Jefferies Financial Group started coverage on Oruka Therapeutics in a research report on Friday, September 13th. They set a "buy" rating and a $40.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $45.00 price objective on shares of Oruka Therapeutics in a report on Monday, November 25th. TD Cowen began coverage on Oruka Therapeutics in a report on Monday, September 16th. They set a "buy" rating for the company. Leerink Partnrs raised shares of Oruka Therapeutics to a "strong-buy" rating in a report on Tuesday, September 17th. Finally, Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Seven equities 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, the stock currently has an average rating of "Buy" and a consensus price target of $43.17.
Get Our Latest Research Report on ORKA
Oruka Therapeutics Stock Performance
The firm has a fifty day moving average price of $24.77. The firm has a market capitalization of $726.58 million, a P/E ratio of -3.32 and a beta of 0.78.
Institutional Trading of Oruka Therapeutics
A number of hedge funds have recently made changes to their positions in ORKA. Geode Capital Management LLC bought a new position in Oruka Therapeutics in the third quarter valued at $343,000. The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $1,037,000. Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $2,013,000. Janus Henderson Group PLC bought a new stake in Oruka Therapeutics in the 3rd quarter worth approximately $5,840,000. Finally, Redmile Group LLC purchased a new stake in Oruka Therapeutics in the third quarter worth approximately $10,091,000. 56.44% of the stock is owned by institutional investors.
About Oruka Therapeutics
(
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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.
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