Oruka Therapeutics (NASDAQ:ORKA) Sees Large Volume Increase – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares saw unusually-strong trading volume on Tuesday . Approximately 133,137 shares traded hands during 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 research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Lifesci Capital began coverage on Oruka Therapeutics in a report on Monday, September 16th. They set an “outperform” rating and a $41.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research report on Friday, December 20th. Leerink Partners initiated coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price target for the company. Finally, TD Cowen assumed coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued a “buy” rating on the stock. Seven investment 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 company currently has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Price Performance

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 company’s 50 day simple moving average is $24.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC bought a new position in Oruka Therapeutics during the third quarter worth about $114,763,000. RTW Investments LP bought a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $45,359,000. Franklin Resources Inc. acquired a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $17,661,000. Braidwell LP bought a new stake in Oruka Therapeutics in the 3rd quarter valued at $12,640,000. Finally, Great Point Partners LLC acquired a new stake in Oruka Therapeutics during the 3rd quarter valued at $12,614,000. 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.