Oruka Therapeutics (NASDAQ:ORKA) Shares Down 4.1% – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price was down 4.1% during trading on Monday . The stock traded as low as $20.83 and last traded at $20.83. Approximately 14,384 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 67,703 shares. The stock had previously closed at $21.73.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Leerink Partners assumed coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price for the company. Stifel Nicolaus began coverage on Oruka Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Monday, November 25th. TD Cowen began coverage on Oruka Therapeutics in a research note on Monday, September 16th. They set a “buy” rating for the company. 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 price objective for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Stock Down 3.3 %

The business’s 50 day moving average price is $25.60. The firm has a market cap of $735.35 million, a P/E ratio of -3.47 and a beta of 0.87.

Institutional Investors Weigh In On Oruka Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC purchased a new stake in Oruka Therapeutics in the third quarter valued at about $343,000. The Manufacturers Life Insurance Company acquired a new position in shares of Oruka Therapeutics in the third quarter valued at about $1,037,000. Wellington Management Group LLP acquired a new position in shares of Oruka Therapeutics in the third quarter valued at about $2,013,000. Janus Henderson Group PLC acquired a new position in shares of Oruka Therapeutics in the third quarter valued at about $5,840,000. Finally, Redmile Group LLC acquired a new position in shares of Oruka Therapeutics in the third quarter valued at about $10,091,000. 56.44% of the stock is currently owned by hedge funds and other 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.