Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 6.8% – Should You Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares traded down 6.8% on Friday . The company traded as low as $14.30 and last traded at $14.31. 176,460 shares were traded during mid-day 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 brokerages have weighed in on ORKA. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of Oruka Therapeutics in a research note on Thursday, May 15th. Wall Street Zen upgraded Oruka Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. Finally, BTIG Research assumed coverage on shares of Oruka Therapeutics in a research note on Thursday, May 22nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.38.

Oruka Therapeutics Trading Down 5.3%

The firm has a market cap of $544.38 million, a PE ratio of -3.22 and a beta of -0.34. The stock has a 50 day simple moving average of $12.07 and a 200-day simple moving average of $11.64.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. On average, equities research analysts expect that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

Institutional Investors Weigh In On Oruka Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Oruka Therapeutics during the 4th quarter worth $54,000. Squarepoint Ops LLC acquired a new position in Oruka Therapeutics during the fourth quarter worth about $236,000. Wellington Management Group LLP raised its position in shares of Oruka Therapeutics by 15.8% in the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company’s stock valued at $1,844,000 after buying an additional 12,952 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in Oruka Therapeutics in the fourth quarter valued at approximately $303,000. Finally, AlphaQuest LLC purchased a new stake in Oruka Therapeutics in the first quarter valued at approximately $168,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.