Oruka Therapeutics (NASDAQ:ORKA) Hits New 12-Month Low – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA) reached a new 52-week low on Monday . The company traded as low as $17.64 and last traded at $17.87, with a volume of 16264 shares traded. The stock had previously closed at $19.01.

Wall Street Analysts Forecast Growth

ORKA has been the subject of a number of research reports. TD Cowen initiated coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a “buy” rating for the company. Lifesci Capital initiated coverage on Oruka Therapeutics in a research note on Monday, September 16th. They set an “outperform” rating and a $41.00 price target for the company. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target for the company. Leerink Partnrs raised shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Leerink Partners assumed coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Down 5.0 %

The business has a fifty day moving average of $23.74. The company has a market cap of $632.08 million, a PE ratio of -2.88 and a beta of 0.78.

Institutional Trading of Oruka Therapeutics

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

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.