Oruka Therapeutics (NASDAQ:ORKA) Trading Down 7.8% – Time to Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares dropped 7.8% during mid-day trading on Monday . The company traded as low as $14.41 and last traded at $14.50. Approximately 18,815 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 200,898 shares. The stock had previously closed at $15.72.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Friday, December 20th. Leerink Partners assumed coverage on Oruka Therapeutics in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price for the company. Stifel Nicolaus initiated coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Performance

The company has a market cap of $485.44 million, a P/E ratio of -2.21 and a beta of 0.81. The firm’s 50-day simple moving average is $21.20.

Institutional Investors Weigh In On Oruka Therapeutics

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new stake in Oruka Therapeutics during the 3rd quarter worth about $17,661,000. Geode Capital Management LLC acquired a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $343,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at approximately $11,699,000. Wellington Management Group LLP acquired a new position in Oruka Therapeutics in the 3rd quarter worth approximately $2,013,000. Finally, RTW Investments LP purchased a new position in Oruka Therapeutics during the 3rd quarter worth approximately $45,359,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.