Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 6.9% – Should You Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price fell 6.9% during mid-day trading on Friday . The company traded as low as $30.01 and last traded at $28.36. 175,053 shares were traded during trading, a decline of 42% from the average session volume of 300,395 shares. The stock had previously closed at $30.46.

Wall Street Analysts Forecast Growth

ORKA has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Oruka Therapeutics in a research report on Thursday, November 13th. They issued a “buy” rating and a $45.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oruka Therapeutics in a research report on Wednesday, October 8th. Guggenheim assumed coverage on shares of Oruka Therapeutics in a report on Monday, October 27th. They issued a “buy” rating and a $60.00 target price for the company. Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Barclays started coverage on Oruka Therapeutics in a research report on Monday, October 13th. They set an “overweight” rating and a $48.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Oruka Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $45.14.

Oruka Therapeutics Stock Performance

The firm’s 50 day moving average is $25.25 and its two-hundred day moving average is $17.58. The stock has a market capitalization of $1.37 billion, a PE ratio of -10.09 and a beta of -0.30.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.01. On average, analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Global Investors LP purchased a new stake in Oruka Therapeutics during the 3rd quarter worth about $51,280,000. Avoro Capital Advisors LLC acquired a new position in shares of Oruka Therapeutics during the third quarter worth about $25,640,000. Deep Track Capital LP grew its position in shares of Oruka Therapeutics by 38.4% during the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock worth $51,051,000 after buying an additional 735,983 shares in the last quarter. Braidwell LP increased its stake in shares of Oruka Therapeutics by 37.0% during the first quarter. Braidwell LP now owns 1,572,426 shares of the company’s stock worth $16,133,000 after buying an additional 424,750 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Oruka Therapeutics by 100.6% in the second quarter. Geode Capital Management LLC now owns 707,406 shares of the company’s stock valued at $7,932,000 after acquiring an additional 354,821 shares in the last quarter. 56.44% of the stock is currently owned by hedge funds and other 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.