Oruka Therapeutics (NASDAQ:ORKA) Sees Large Volume Increase – Still a Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) saw unusually-strong trading volume on Monday . Approximately 102,076 shares traded hands during trading, an increase of 39% from the previous session’s volume of 73,478 shares.The stock last traded at $22.58 and had previously closed at $21.94.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Monday, November 25th. TD Cowen began coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They set a “buy” rating on the stock. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Finally, Lifesci Capital assumed coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Oruka Therapeutics has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Price Performance

The stock has a market capitalization of $789.60 million, a P/E ratio of -3.50 and a beta of 0.78. The firm’s fifty day moving average price is $25.09.

Institutional Trading of Oruka Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at about $114,763,000. RTW Investments LP bought a new stake in Oruka Therapeutics in the third quarter valued at approximately $45,359,000. Franklin Resources Inc. purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $17,661,000. Braidwell LP bought a new position in shares of Oruka Therapeutics in the third quarter worth approximately $12,640,000. Finally, Great Point Partners LLC purchased a new position in shares of Oruka Therapeutics in the third quarter worth $12,614,000. 56.44% of the stock is owned by institutional investors.

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.