Oruka Therapeutics (NASDAQ:ORKA) Shares Down 5.6% – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price was down 5.6% during mid-day trading on Monday . The company traded as low as $19.08 and last traded at $19.59. Approximately 112,490 shares traded hands during trading, an increase of 67% from the average daily volume of 67,386 shares. The stock had previously closed at $20.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ORKA. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. Leerink Partners began coverage on Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Monday. Stifel Nicolaus began coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Oruka Therapeutics has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Stock Performance

The stock has a market cap of $709.08 million, a PE ratio of -2.99 and a beta of 0.87. The business has a 50-day simple moving average of $25.86.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. FMR LLC bought a new position in Oruka Therapeutics during the 3rd quarter worth $114,763,000. RTW Investments LP acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $45,359,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $17,661,000. Braidwell LP acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $12,640,000. Finally, Great Point Partners LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $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.