Oruka Therapeutics (NASDAQ:ORKA) Trading Down 7.8% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ORKA. Stifel Nicolaus assumed coverage on Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Friday, December 20th. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Leerink Partners assumed coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, TD Cowen assumed coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Trading Down 11.1 %

The company has a market cap of $489.29 million, a P/E ratio of -2.23 and a beta of 0.81. The company’s fifty day simple moving average is $21.72.

Hedge Funds Weigh In On Oruka Therapeutics

Large investors have recently modified their holdings of the company. Geode Capital Management LLC purchased a new position in Oruka Therapeutics in the third quarter valued at approximately $343,000. The Manufacturers Life Insurance Company purchased a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $1,037,000. Wellington Management Group LLP acquired a new position in shares of Oruka Therapeutics during the 3rd quarter valued at $2,013,000. Janus Henderson Group PLC purchased a new stake in Oruka Therapeutics during the 3rd quarter worth $5,840,000. Finally, Redmile Group LLC acquired a new stake in Oruka Therapeutics in the 3rd quarter valued at $10,091,000. 56.44% of the stock is currently 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.