Oruka Therapeutics (NASDAQ:ORKA) Sees Unusually-High Trading Volume – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA) saw strong trading volume on Tuesday . 133,137 shares traded hands during mid-day trading, an increase of 43% from the previous session’s volume of 92,853 shares.The stock last traded at $20.88 and had previously closed at $21.00.

Analyst Ratings Changes

ORKA has been the subject of a number of analyst reports. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. TD Cowen began coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued a “buy” rating on the stock. Leerink Partners began coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 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 Friday. Finally, Jefferies Financial Group began coverage on Oruka Therapeutics in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Oruka Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Trading Up 0.6 %

The stock has a market capitalization of $739.53 million, a price-to-earnings ratio of -3.37 and a beta of 0.78. The firm has a 50 day moving average of $24.42.

Hedge Funds Weigh In On Oruka Therapeutics

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

About Oruka Therapeutics

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.