Oruka Therapeutics (NASDAQ:ORKA) Sees Unusually-High Trading Volume – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares saw an uptick in trading volume on Friday . 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ORKA. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Oruka Therapeutics in a report on Thursday, October 31st. Leerink Partners initiated coverage on Oruka Therapeutics in a research report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 target price on the stock. Lifesci Capital assumed coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued an “outperform” rating and a $41.00 target price for the company. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Stifel Nicolaus started coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Oruka Therapeutics has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Performance

The firm has a market capitalization of $726.25 million, a price-to-earnings ratio of -3.31 and a beta of 0.87. The firm’s 50 day simple moving average is $26.16.

Institutional Trading of Oruka Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ORKA. Geode Capital Management LLC acquired a new position in shares of Oruka Therapeutics during the 3rd quarter valued at about $343,000. The Manufacturers Life Insurance Company bought a new stake in Oruka Therapeutics during the third quarter worth approximately $1,037,000. Wellington Management Group LLP acquired a new position in Oruka Therapeutics during the third quarter valued at approximately $2,013,000. Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics in the third quarter valued at approximately $5,840,000. Finally, Redmile Group LLC acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $10,091,000. Institutional investors and hedge funds 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.