Oruka Therapeutics (NASDAQ:ORKA) Shares Down 7.8% – Here’s What Happened

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) fell 7.8% on Monday . The company traded as low as $14.41 and last traded at $14.50. 18,815 shares were traded during trading, a decline of 91% from the average session volume of 200,898 shares. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ORKA shares. HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Friday, December 20th. Leerink Partners started coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price on the stock. Stifel Nicolaus started coverage on Oruka Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $49.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Finally, Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Trading Down 1.1 %

The stock has a fifty day moving average price of $21.20. The firm has a market capitalization of $485.44 million, a PE ratio of -2.21 and a beta of 0.81.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ORKA. Geode Capital Management LLC bought a new stake in Oruka Therapeutics in the third quarter valued at $343,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Oruka Therapeutics in the 3rd quarter worth about $1,037,000. Wellington Management Group LLP bought a new stake in Oruka Therapeutics in the 3rd quarter valued at about $2,013,000. Janus Henderson Group PLC acquired a new position in Oruka Therapeutics during the 3rd quarter valued at about $5,840,000. Finally, Redmile Group LLC bought a new position in Oruka Therapeutics in the 3rd quarter worth about $10,091,000. 56.44% of the stock is currently owned by institutional investors.

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.