Oruka Therapeutics (NASDAQ:ORKA) Hits New 1-Year Low – Should You Sell?

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

Analyst Upgrades and Downgrades

ORKA has been the subject of a number of research reports. 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 price target for the company. Stifel Nicolaus began coverage on Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 target price for the company. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Oruka Therapeutics in a research report on Friday, December 20th. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Oruka Therapeutics has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Down 17.3 %

The stock has a market capitalization of $550.18 million, a P/E ratio of -2.51 and a beta of 0.81. The stock’s 50-day moving average price is $21.72.

Hedge Funds Weigh In On Oruka Therapeutics

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

Oruka Therapeutics Company Profile

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.