Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 4.7% – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price dropped 4.7% on Thursday . The stock traded as low as $20.33 and last traded at $20.33. Approximately 20,892 shares traded hands during trading, a decline of 74% from the average daily volume of 79,801 shares. The stock had previously closed at $21.34.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Leerink Partnrs raised shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. TD Cowen assumed coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a “buy” rating on the stock. Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They issued an “outperform” rating and a $41.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research report on Monday, November 25th. Finally, Jefferies Financial Group started coverage on shares of Oruka Therapeutics in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Performance

The firm’s fifty day moving average is $24.77. The company has a market capitalization of $716.78 million, a price-to-earnings ratio of -3.27 and a beta of 0.78.

Hedge Funds Weigh In On Oruka Therapeutics

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics in the third quarter valued at about $343,000. The Manufacturers Life Insurance Company acquired a new stake in Oruka Therapeutics in the third quarter valued at about $1,037,000. Wellington Management Group LLP purchased a new stake in Oruka Therapeutics in the 3rd quarter valued at approximately $2,013,000. Janus Henderson Group PLC purchased a new stake in Oruka Therapeutics in the 3rd quarter valued at approximately $5,840,000. Finally, Redmile Group LLC acquired a new position in Oruka Therapeutics during the 3rd quarter worth approximately $10,091,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.