Oruka Therapeutics (NASDAQ:ORKA) Hits New 12-Month Low – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $17.20 and last traded at $17.20, with a volume of 41956 shares traded. The stock had previously closed at $19.01.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Lifesci Capital started coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They set an “outperform” rating and a $41.00 target price on the stock. 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. Stifel Nicolaus initiated coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 target price for the company. Jefferies Financial Group began coverage on Oruka Therapeutics in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Down 11.9 %

The firm has a 50-day moving average of $21.95. The stock has a market capitalization of $586.23 million, a P/E ratio of -2.67 and a beta of 0.81.

Institutional Trading of Oruka Therapeutics

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC bought a new stake in Oruka Therapeutics during the third quarter worth $343,000. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics during the 3rd quarter worth $1,037,000. Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics in the 3rd quarter worth about $2,013,000. Janus Henderson Group PLC bought a new position in Oruka Therapeutics during the third quarter valued at about $5,840,000. Finally, Redmile Group LLC bought a new position in Oruka Therapeutics during the third quarter valued at about $10,091,000. Institutional investors own 56.44% of the company’s stock.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.