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

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) dropped 4.7% on Thursday . The stock traded as low as $20.33 and last traded at $20.33. Approximately 20,892 shares traded hands during 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 research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a report on Friday, September 13th. They issued a “buy” rating and a $40.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Oruka Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $49.00 target price for the company. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday. Finally, TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Trading Down 2.2 %

The firm has a market cap of $710.83 million, a price-to-earnings ratio of -3.24 and a beta of 0.78. The firm’s fifty day simple moving average is $24.55.

Institutional Trading of Oruka Therapeutics

Institutional investors have recently made changes to their positions in the stock. FMR LLC acquired a new position in Oruka Therapeutics in the 3rd quarter worth about $114,763,000. RTW Investments LP acquired a new position in Oruka Therapeutics in the third quarter worth approximately $45,359,000. Franklin Resources Inc. acquired a new position in Oruka Therapeutics in the third quarter worth approximately $17,661,000. Braidwell LP bought a new position in Oruka Therapeutics during the third quarter valued at approximately $12,640,000. Finally, Great Point Partners LLC acquired a new stake in Oruka Therapeutics in the third quarter valued at approximately $12,614,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.