Redmile Group LLC Acquires Shares of 411,728 Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Redmile Group LLC bought a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 411,728 shares of the company's stock, valued at approximately $10,091,000. Redmile Group LLC owned approximately 34.03% of Oruka Therapeutics as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ORKA. The Manufacturers Life Insurance Company acquired a new stake in Oruka Therapeutics in the third quarter valued at approximately $1,037,000. Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter worth $5,840,000. Point72 Asset Management L.P. acquired a new stake in Oruka Therapeutics in the 3rd quarter valued at $11,822,000. Great Point Partners LLC bought a new stake in Oruka Therapeutics during the 3rd quarter valued at $12,614,000. Finally, Braidwell LP bought a new stake in Oruka Therapeutics during the 3rd quarter valued at $12,640,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Oruka Therapeutics Price Performance

Shares of NASDAQ ORKA traded down $0.63 during midday trading on Thursday, reaching $20.34. The company's stock had a trading volume of 69,423 shares, compared to its average volume of 68,499. The firm has a market cap of $711.90 million, a PE ratio of -3.25 and a beta of 0.78. The firm has a 50 day moving average price of $25.34. Oruka Therapeutics, Inc. has a 12-month low of $18.20 and a 12-month high of $53.88.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Leerink Partnrs upgraded shares of Oruka Therapeutics to a "strong-buy" rating in a report on Tuesday, September 17th. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research note on Friday, September 13th. They set a "buy" rating and a $40.00 price target for the company. Lifesci Capital started coverage on Oruka Therapeutics in a report on Monday, September 16th. They set an "outperform" rating and a $41.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Monday, November 25th. Finally, Leerink Partners initiated coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They set an "outperform" rating and a $44.00 price target for the company. Seven 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, Oruka Therapeutics currently has a consensus rating of "Buy" and an average price target of $43.17.

Oruka Therapeutics Company 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.