Oruka Therapeutics (NASDAQ:ORKA) Shares Gap Up – Here’s What Happened

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares gapped up before the market opened on Tuesday . The stock had previously closed at $13.70, but opened at $14.25. Oruka Therapeutics shares last traded at $14.31, with a volume of 16,258 shares changing hands.

Wall Street Analyst Weigh In

ORKA has been the subject of a number of analyst reports. Wolfe Research started coverage on shares of Oruka Therapeutics in a report on Tuesday. They set an “outperform” rating and a $20.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Stifel Nicolaus assumed coverage on shares of Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Friday, December 20th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.86.

Oruka Therapeutics Trading Up 0.6 %

The firm’s 50 day moving average is $18.00.

Institutional Investors Weigh In On Oruka Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaCentric Advisors LLC acquired a new position in shares of Oruka Therapeutics during the fourth quarter valued at $119,000. China Universal Asset Management Co. Ltd. acquired a new position in Oruka Therapeutics during the 4th quarter valued at about $144,000. Geode Capital Management LLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter valued at about $343,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth approximately $1,037,000. Finally, Wellington Management Group LLP acquired a new position in Oruka Therapeutics in the third quarter valued at approximately $2,013,000. 56.44% of the stock is 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.