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

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s share price shot 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 trading, an increase of 1% from the average session volume of 67,878 shares. The stock had previously closed at $20.26.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORKA. HC Wainwright reissued a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research report on Monday, November 25th. TD Cowen assumed coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They issued a “buy” rating on the stock. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus started coverage on Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Stock Performance

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

Institutional Investors Weigh In On Oruka Therapeutics

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