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

Oruka Therapeutics, Inc. (NASDAQ:ORKA) saw unusually-high trading volume on Monday . Approximately 102,076 shares traded hands during trading, an increase of 39% from the previous session’s volume of 73,478 shares.The stock last traded at $22.58 and had previously closed at $21.94.

Wall Street Analyst Weigh In

ORKA has been the topic of several recent research reports. Jefferies Financial Group began coverage on Oruka Therapeutics in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. TD Cowen assumed coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They set a “buy” rating on the stock. Leerink Partners initiated coverage on shares of Oruka Therapeutics in a research report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Monday, November 25th. Finally, Stifel Nicolaus initiated coverage on shares of Oruka Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Stock Down 4.9 %

The stock has a market capitalization of $746.88 million, a PE ratio of -3.41 and a beta of 0.78. The company has a 50 day moving average price of $24.92.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ORKA. Geode Capital Management LLC purchased a new position in Oruka Therapeutics during the 3rd quarter valued at $343,000. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics during the third quarter worth $1,037,000. Wellington Management Group LLP bought a new stake in shares of Oruka Therapeutics during the third quarter worth $2,013,000. Janus Henderson Group PLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at $5,840,000. Finally, Redmile Group LLC bought a new position in shares of Oruka Therapeutics in the third quarter worth about $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.