Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 4.7% – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price was down 4.7% during trading on Thursday . The company traded as low as $20.33 and last traded at $20.33. Approximately 20,892 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 79,801 shares. The stock had previously closed at $21.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research note on Monday, November 25th. Lifesci Capital initiated coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, November 19th. TD Cowen initiated coverage on Oruka Therapeutics in a research note on Monday, September 16th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus initiated coverage on Oruka Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Trading Down 4.0 %

The business has a 50-day moving average price of $24.77. The firm has a market cap of $716.78 million, a P/E ratio of -3.27 and a beta of 0.78.

Institutional Investors Weigh In On Oruka Therapeutics

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