Oruka Therapeutics (NASDAQ:ORKA) Stock Price Up 7.4% – Here’s Why

Oruka Therapeutics, Inc. (NASDAQ:ORKA) traded up 7.4% during mid-day trading on Friday . The stock traded as high as $21.75 and last traded at $21.75. 68,840 shares traded hands during trading, an increase of 1% from the average session volume of 67,878 shares. The stock had previously closed at $20.26.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ORKA. Lifesci Capital initiated coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price target on the stock. TD Cowen started coverage on shares of Oruka Therapeutics in a report on Monday, September 16th. They set a “buy” rating for the company. Leerink Partnrs raised shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group assumed coverage on shares of Oruka Therapeutics in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Trading Up 7.3 %

The stock has a market capitalization of $760.55 million, a P/E ratio of -3.24 and a beta of 0.87. The stock has a 50 day moving average of $25.67.

Institutional Inflows and Outflows

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

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.