Oruka Therapeutics (NASDAQ:ORKA) Trading Down 3.2% – Time to Sell?

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) were down 3.2% on Thursday . The stock traded as low as $20.33 and last traded at $20.46. Approximately 9,646 shares changed hands during trading, a decline of 90% from the average daily volume of 93,109 shares. The stock had previously closed at $21.13.

Analysts Set New Price Targets

ORKA has been the topic of several recent analyst reports. Lifesci Capital began coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They issued an “outperform” rating and a $41.00 price objective on the stock. Stifel Nicolaus assumed coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $49.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Leerink Partners assumed coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday, December 20th. 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 stock has a consensus rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Trading Down 1.3 %

The firm’s fifty day moving average price is $24.13. The firm has a market capitalization of $730.08 million, a P/E ratio of -3.33 and a beta of 0.78.

Hedge Funds Weigh In On Oruka Therapeutics

Several hedge funds have recently bought and sold shares of ORKA. The Manufacturers Life Insurance Company purchased a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $1,037,000. Wellington Management Group LLP acquired a new position in Oruka Therapeutics in the third quarter valued at $2,013,000. Franklin Resources Inc. purchased a new position in Oruka Therapeutics during the third quarter worth about $17,661,000. Point72 Asset Management L.P. acquired a new stake in Oruka Therapeutics in the 3rd quarter worth about $11,822,000. Finally, RTW Investments LP acquired a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $45,359,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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.