Oruka Therapeutics (NASDAQ:ORKA) Reaches New 52-Week Low – What’s Next?

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

Analysts Set New Price Targets

Several research firms have weighed in on ORKA. TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating on the stock. Lifesci Capital initiated coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They issued an “outperform” rating and a $41.00 price objective on the stock. Leerink Partners began coverage on shares of Oruka Therapeutics in a research report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price for the company. Stifel Nicolaus began coverage on shares of Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Stock Performance

The stock has a market capitalization of $678.63 million, a price-to-earnings ratio of -3.10 and a beta of 0.78. The firm’s 50 day moving average is $23.29.

Institutional Investors Weigh In On Oruka Therapeutics

Several hedge funds have recently made changes to their positions in ORKA. FMR LLC purchased a new position in Oruka Therapeutics during the third quarter worth about $114,763,000. RTW Investments LP purchased a new position in shares of Oruka Therapeutics during the 3rd quarter worth about $45,359,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics in the third quarter worth approximately $17,661,000. Braidwell LP purchased a new stake in Oruka Therapeutics in the third quarter valued at approximately $12,640,000. Finally, Great Point Partners LLC acquired a new position in Oruka Therapeutics during the third quarter worth approximately $12,614,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.