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

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price was up 7.4% on Friday . The company traded as high as $21.75 and last traded at $21.75. Approximately 68,840 shares changed hands during trading, an increase of 1% from the average daily volume of 67,878 shares. The stock had previously closed at $20.26.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ORKA. TD Cowen began coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Oruka Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $49.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a report on Monday. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group started coverage on shares of Oruka Therapeutics in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oruka Therapeutics has a consensus rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Stock Up 7.3 %

The company has a market capitalization of $760.55 million, a P/E ratio of -3.24 and a beta of 0.87. The firm’s 50-day moving average price is $25.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in Oruka Therapeutics during the 3rd quarter worth approximately $17,661,000. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $343,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Oruka Therapeutics in the 3rd quarter worth about $11,699,000. Wellington Management Group LLP purchased a new stake in Oruka Therapeutics during the third quarter valued at about $2,013,000. Finally, RTW Investments LP purchased a new stake in shares of Oruka Therapeutics in the third quarter worth about $45,359,000. Institutional investors 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.