Oruka Therapeutics (NASDAQ:ORKA) Shares Down 7.8% - Here's Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares traded down 7.8% on Monday . The stock traded as low as $14.41 and last traded at $14.50. 18,815 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 200,898 shares. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Oruka Therapeutics in a research report on Friday, October 11th. They issued a "buy" rating and a $49.00 target price for the company. Leerink Partners assumed coverage on shares of Oruka Therapeutics in a research report on Tuesday, September 17th. They issued an "outperform" rating and a $44.00 target price for the company. Leerink Partnrs raised shares of Oruka Therapeutics to a "strong-buy" rating in a research report on Tuesday, September 17th. Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Finally, TD Cowen initiated coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set a "buy" rating for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $43.17.

Oruka Therapeutics Price Performance

The company has a 50 day moving average of $21.72. The company has a market capitalization of $490.69 million, a P/E ratio of -2.24 and a beta of 0.81.

Institutional Trading of Oruka Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $17,661,000. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $343,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $11,699,000. Wellington Management Group LLP purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $2,013,000. Finally, RTW Investments LP purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $45,359,000. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

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.