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

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares hit a new 52-week low during trading on Friday . The stock 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Lifesci Capital initiated coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 target price for the company. Stifel Nicolaus assumed coverage on Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday, December 20th. Finally, TD Cowen initiated coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Performance

The firm has a market capitalization of $586.23 million, a PE ratio of -2.67 and a beta of 0.81. The stock has a 50 day moving average price of $21.95.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in Oruka Therapeutics in the third quarter valued at approximately $17,661,000. Geode Capital Management LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter valued at $343,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter valued at $11,699,000. Wellington Management Group LLP bought a new stake in Oruka Therapeutics during the 3rd quarter worth $2,013,000. Finally, RTW Investments LP acquired a new position in Oruka Therapeutics in the 3rd quarter worth about $45,359,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.