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

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

Analysts Set New Price Targets

A number of research firms have issued reports on ORKA. TD Cowen began coverage on Oruka Therapeutics in a research note on Monday, September 16th. They set a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Monday, November 25th. Jefferies Financial Group started coverage on Oruka Therapeutics in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Leerink Partners started coverage on Oruka Therapeutics in a research report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Trading Down 3.3 %

The business has a 50 day moving average of $25.60. The stock has a market capitalization of $735.35 million, a price-to-earnings ratio of -3.47 and a beta of 0.87.

Hedge Funds Weigh In On Oruka Therapeutics

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at approximately $343,000. The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at approximately $1,037,000. Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at approximately $2,013,000. Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics during the 3rd quarter valued at approximately $5,840,000. Finally, Redmile Group LLC bought a new position in Oruka Therapeutics in the 3rd quarter valued at $10,091,000. Institutional investors own 56.44% of the company’s stock.

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.