Oruka Therapeutics (NASDAQ:ORKA) Sets New 1-Year Low – What’s Next?

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.23 and last traded at $18.33, with a volume of 7234 shares trading hands. The stock had previously closed at $18.51.

Analyst Ratings Changes

Several analysts recently weighed in on ORKA shares. Jefferies Financial Group assumed coverage on shares of Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Leerink Partners assumed coverage on shares of Oruka Therapeutics in a report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price target for the company. Lifesci Capital started coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price objective for the company. Finally, TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They set a “buy” rating for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Stock Performance

The company has a 50-day moving average price of $26.02. The company has a market capitalization of $679 million, a P/E ratio of -2.96 and a beta of 0.87.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors have recently modified their holdings of ORKA. FMR LLC acquired a new position in Oruka Therapeutics during the 3rd quarter valued at about $114,763,000. RTW Investments LP purchased a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $45,359,000. Braidwell LP bought a new stake in Oruka Therapeutics during the third quarter worth $12,640,000. Great Point Partners LLC purchased a new stake in Oruka Therapeutics in the 3rd quarter valued at $12,614,000. Finally, Point72 Asset Management L.P. bought a new position in Oruka Therapeutics during the 3rd quarter valued at $11,822,000. 56.44% of the stock is 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.