Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 5.6% – Should You Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price fell 5.6% on Monday . The stock traded as low as $19.08 and last traded at $19.59. 112,490 shares were traded during mid-day trading, an increase of 67% from the average session volume of 67,386 shares. The stock had previously closed at $20.75.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a report on Monday. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. TD Cowen initiated coverage on Oruka Therapeutics in a report on Monday, September 16th. They set a “buy” rating on the stock. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group began coverage on Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Stock Performance

The company has a 50 day moving average of $26.16. The company has a market cap of $647.85 million, a P/E ratio of -3.31 and a beta of 0.87.

Institutional Trading of Oruka Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $114,763,000. RTW Investments LP purchased a new stake in Oruka Therapeutics during the 3rd quarter valued at $45,359,000. Braidwell LP purchased a new stake in Oruka Therapeutics during the 3rd quarter valued at $12,640,000. Great Point Partners LLC bought a new stake in shares of Oruka Therapeutics in the 3rd quarter worth $12,614,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Oruka Therapeutics in the third quarter worth $11,822,000. 56.44% of the stock is currently owned by institutional investors.

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.