Oruka Therapeutics (NASDAQ:ORKA) Trading Down 6.8% - Here's Why

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ORKA. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a research note on Monday. BTIG Research started coverage on Oruka Therapeutics in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, Wall Street Zen raised shares of Oruka Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $40.38.

Oruka Therapeutics Trading Up 2.1%

The business has a 50-day moving average price of $12.07 and a 200 day moving average price of $11.58. The company has a market cap of $526.42 million, a price-to-earnings ratio of -3.12 and a beta of -0.34.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.17. On average, analysts anticipate that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Oruka Therapeutics by 17.7% during the fourth quarter. FMR LLC now owns 5,512,300 shares of the company's stock valued at $106,883,000 after buying an additional 830,000 shares during the last quarter. Fairmount Funds Management LLC boosted its holdings in Oruka Therapeutics by 5.0% during the fourth quarter. Fairmount Funds Management LLC now owns 3,371,922 shares of the company's stock worth $65,382,000 after purchasing an additional 160,000 shares during the last quarter. VR Adviser LLC boosted its holdings in Oruka Therapeutics by 6.5% during the fourth quarter. VR Adviser LLC now owns 3,285,620 shares of the company's stock worth $63,708,000 after purchasing an additional 200,000 shares during the last quarter. RTW Investments LP boosted its holdings in Oruka Therapeutics by 5.1% during the fourth quarter. RTW Investments LP now owns 1,945,649 shares of the company's stock worth $37,726,000 after purchasing an additional 95,001 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Oruka Therapeutics by 4,161.2% during the fourth quarter. Vanguard Group Inc. now owns 1,610,651 shares of the company's stock worth $31,231,000 after purchasing an additional 1,572,853 shares during the last quarter. 56.44% of the stock is owned by 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.