Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year Low – Should You Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $17.20 and last traded at $17.20, with a volume of 41956 shares traded. The stock had previously closed at $19.01.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen initiated coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They set a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Friday, December 20th. Leerink Partners started coverage on Oruka Therapeutics in a research report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price for the company. Lifesci Capital began coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued an “outperform” rating and a $41.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on Oruka Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Down 17.3 %

The firm has a market cap of $550.18 million, a price-to-earnings ratio of -2.51 and a beta of 0.81. The stock’s 50-day moving average is $21.72.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ORKA. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $343,000. The Manufacturers Life Insurance Company bought a new position in Oruka Therapeutics during the 3rd quarter valued at approximately $1,037,000. Wellington Management Group LLP purchased a new stake in Oruka Therapeutics in the 3rd quarter worth approximately $2,013,000. Janus Henderson Group PLC bought a new stake in shares of Oruka Therapeutics in the 3rd quarter worth approximately $5,840,000. Finally, Redmile Group LLC purchased a new position in shares of Oruka Therapeutics during the third quarter valued at approximately $10,091,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.