Oruka Therapeutics (NASDAQ:ORKA) Trading Down 6.8% - Time to Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) dropped 6.8% on Friday . The company traded as low as $14.30 and last traded at $14.31. Approximately 176,460 shares traded hands during trading, a decline of 24% from the average daily volume of 233,594 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a research note on Thursday, May 15th. BTIG Research assumed coverage on shares of Oruka Therapeutics in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Finally, Wall Street Zen raised shares of Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Oruka Therapeutics currently has an average rating of "Buy" and an average price target of $40.38.

Oruka Therapeutics Stock Down 5.3%

The firm has a market cap of $544.38 million, a P/E ratio of -3.22 and a beta of -0.34. The stock's 50-day simple moving average is $12.07 and its 200 day simple moving average is $11.64.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. On average, research analysts forecast that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ORKA. Vanguard Group Inc. lifted its position in Oruka Therapeutics by 4,161.2% in the 4th quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company's stock valued at $31,231,000 after acquiring an additional 1,572,853 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Oruka Therapeutics by 374.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,326,893 shares of the company's stock valued at $25,730,000 after acquiring an additional 1,047,245 shares in the last quarter. FMR LLC lifted its position in Oruka Therapeutics by 17.7% in the 4th quarter. FMR LLC now owns 5,512,300 shares of the company's stock valued at $106,883,000 after acquiring an additional 830,000 shares in the last quarter. Braidwell LP lifted its position in Oruka Therapeutics by 122.5% in the 4th quarter. Braidwell LP now owns 1,147,676 shares of the company's stock valued at $22,253,000 after acquiring an additional 631,950 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Oruka Therapeutics by 259.7% in the 4th quarter. Janus Henderson Group PLC now owns 849,410 shares of the company's stock valued at $16,415,000 after acquiring an additional 613,294 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

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.