Oruka Therapeutics (NASDAQ:ORKA) Shares Down 3.2% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. TD Cowen assumed coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on Oruka Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $49.00 price target on the stock. Finally, Leerink Partners initiated coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Price Performance

The firm has a fifty day moving average of $23.74. The firm has a market cap of $665.33 million, a P/E ratio of -3.04 and a beta of 0.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics in the third quarter valued at about $1,037,000. FMR LLC bought a new stake in shares of Oruka Therapeutics in the 3rd quarter worth approximately $114,763,000. Great Point Partners LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth approximately $12,614,000. Braidwell LP bought a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $12,640,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Oruka Therapeutics in the third quarter valued at $5,840,000. 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.