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

Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,137 shares of the company’s stock, valued at approximately $2,013,000. Wellington Management Group LLP owned 6.79% of Oruka Therapeutics at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Oruka Therapeutics in the 3rd quarter worth approximately $1,037,000. Janus Henderson Group PLC acquired a new position in Oruka Therapeutics during the third quarter worth $5,840,000. Redmile Group LLC acquired a new stake in Oruka Therapeutics in the third quarter valued at $10,091,000. Point72 Asset Management L.P. acquired a new stake in Oruka Therapeutics in the third quarter valued at $11,822,000. Finally, Great Point Partners LLC purchased a new position in shares of Oruka Therapeutics in the third quarter valued at $12,614,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

Oruka Therapeutics Stock Performance

NASDAQ ORKA opened at $21.34 on Thursday. The company’s 50-day moving average is $24.77. Oruka Therapeutics, Inc. has a 12 month low of $18.20 and a 12 month high of $53.88. The firm has a market cap of $746.88 million, a P/E ratio of -3.41 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ORKA. Lifesci Capital initiated coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They issued an “outperform” rating and a $41.00 price objective on the stock. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. TD Cowen started coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set a “buy” rating 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, Leerink Partners initiated coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Oruka Therapeutics has a consensus rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Profile

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.