Oruka Therapeutics (NASDAQ:ORKA) Stock Price Up 7.4% – Time to Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded up 7.4% during trading on Friday . The stock traded as high as $21.75 and last traded at $21.75. 68,840 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 67,878 shares. The stock had previously closed at $20.26.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Leerink Partners assumed coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Lifesci Capital began coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued an “outperform” rating and a $41.00 price target on the stock. TD Cowen initiated coverage on Oruka Therapeutics in a research note on Monday, September 16th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group assumed coverage on shares of Oruka Therapeutics in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Price Performance

The firm has a market capitalization of $760.53 million, a price-to-earnings ratio of -3.47 and a beta of 0.87. The firm has a fifty day moving average of $25.60.

Institutional Trading of Oruka Therapeutics

Several large investors have recently made changes to their positions in the business. Braidwell LP acquired a new position in Oruka Therapeutics during the 3rd quarter worth about $12,640,000. Great Point Partners LLC acquired a new position in shares of Oruka Therapeutics during the third quarter worth approximately $12,614,000. Geode Capital Management LLC bought a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $343,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at approximately $17,661,000. Finally, Wellington Management Group LLP acquired a new position in Oruka Therapeutics during the 3rd quarter worth $2,013,000. Institutional investors own 56.44% of the company’s stock.

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.