Point72 Asset Management L.P. Acquires Shares of 482,330 Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Point72 Asset Management L.P. purchased a new stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 482,330 shares of the company's stock, valued at approximately $11,822,000. Point72 Asset Management L.P. owned 39.86% of Oruka Therapeutics at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ORKA. The Manufacturers Life Insurance Company purchased a new position in Oruka Therapeutics in the 3rd quarter worth approximately $1,037,000. FMR LLC acquired a new stake in Oruka Therapeutics during the third quarter worth about $114,763,000. Great Point Partners LLC acquired a new position in Oruka Therapeutics during the 3rd quarter valued at approximately $12,614,000. Braidwell LP bought a new position in shares of Oruka Therapeutics during the third quarter worth about $12,640,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at approximately $5,840,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Lifesci Capital started coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They issued an "outperform" rating and a $41.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Monday, November 25th. TD Cowen started coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a "buy" rating on the stock. Leerink Partnrs raised shares of Oruka Therapeutics to a "strong-buy" rating in a research note on Tuesday, September 17th. Finally, Leerink Partners assumed coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They set an "outperform" rating and a $44.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $43.17.

Oruka Therapeutics Stock Up 4.2 %

Shares of Oruka Therapeutics stock traded up $0.86 during midday trading on Friday, reaching $21.20. The company had a trading volume of 79,991 shares, compared to its average volume of 179,373. The company's fifty day moving average is $25.31. The firm has a market cap of $742 million, a P/E ratio of -3.39 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.