Wellington Management Group LLP Makes New $2.01 Million Investment in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 82,137 shares of the company's stock, valued at approximately $2,013,000. Wellington Management Group LLP owned 6.79% of Oruka Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $1,037,000. Janus Henderson Group PLC purchased a new position in shares of Oruka Therapeutics during the third quarter worth $5,840,000. Redmile Group LLC acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at $10,091,000. Point72 Asset Management L.P. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at $11,822,000. Finally, Great Point Partners LLC purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at $12,614,000. Hedge funds and other institutional investors own 56.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Leerink Partnrs raised Oruka Therapeutics to a "strong-buy" rating in a research report on Tuesday, September 17th. Leerink Partners initiated coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They set an "outperform" rating and a $44.00 target price on the stock. Lifesci Capital began coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued an "outperform" rating and a $41.00 price target for the company. Stifel Nicolaus initiated coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a "buy" rating and a $49.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Oruka Therapeutics in a research note on Friday, September 13th. They set a "buy" rating and a $40.00 target price for the company. Seven investment 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, the company presently has a consensus rating of "Buy" and a consensus target price of $43.17.

Oruka Therapeutics Trading Down 2.7 %

Oruka Therapeutics stock traded down $0.58 during midday trading on Thursday, reaching $20.76. The company's stock had a trading volume of 584,123 shares, compared to its average volume of 82,164. The stock has a market cap of $726.58 million, a P/E ratio of -3.32 and a beta of 0.78. The stock's 50-day moving average is $24.77. Oruka Therapeutics, Inc. has a fifty-two week low of $18.20 and a fifty-two week high of $53.88.

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.