Oruka Therapeutics (NASDAQ:ORKA) Sees Unusually-High Trading Volume – Should You Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares saw unusually-high trading volume on Friday . Approximately 205,826 shares traded hands during trading, an increase of 209% from the previous session’s volume of 66,630 shares.The stock last traded at $20.56 and had previously closed at $20.50.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ORKA. Jefferies Financial Group initiated coverage on Oruka Therapeutics in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 target price for the company. Lifesci Capital initiated coverage on Oruka Therapeutics in a research report on Monday, September 16th. They issued an “outperform” rating and a $41.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Leerink Partners began coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Thursday, October 31st. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Price Performance

The company has a fifty day moving average price of $26.16. The firm has a market capitalization of $726.25 million, a P/E ratio of -3.31 and a beta of 0.87.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORKA. FMR LLC acquired a new position in shares of Oruka Therapeutics in the 3rd quarter worth approximately $114,763,000. RTW Investments LP bought a new position in Oruka Therapeutics in the 3rd quarter valued at $45,359,000. Braidwell LP bought a new position in Oruka Therapeutics in the 3rd quarter valued at $12,640,000. Great Point Partners LLC acquired a new position in Oruka Therapeutics in the third quarter worth $12,614,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Oruka Therapeutics during the third quarter worth $11,822,000. 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.