Wellington Management Group LLP Buys New Holdings in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 82,137 shares of the company’s stock, valued at approximately $2,013,000. Wellington Management Group LLP owned about 0.07% of Oruka Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $114,763,000. RTW Investments LP purchased a new position in Oruka Therapeutics in the third quarter valued at approximately $45,359,000. Braidwell LP acquired a new position in Oruka Therapeutics during the third quarter valued at approximately $12,640,000. Great Point Partners LLC purchased a new stake in Oruka Therapeutics during the third quarter worth approximately $12,614,000. Finally, Point72 Asset Management L.P. purchased a new stake in Oruka Therapeutics during the third quarter worth approximately $11,822,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on ORKA. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a research report on Monday, November 25th. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 target price for the company. Stifel Nicolaus initiated coverage on Oruka Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $49.00 target price on the stock. Finally, Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Oruka Therapeutics has an average rating of “Buy” and an average price target of $43.17.

Oruka Therapeutics Stock Performance

Shares of NASDAQ ORKA opened at $21.34 on Thursday. Oruka Therapeutics, Inc. has a 1 year low of $18.20 and a 1 year high of $53.88. The stock’s 50-day simple moving average is $24.77. The stock has a market capitalization of $746.88 million, a price-to-earnings ratio of -3.41 and a beta of 0.78.

About Oruka Therapeutics

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.