Oruka Therapeutics (NASDAQ:ORKA) Shares Up 14.1% – Time to Buy?

Oruka Therapeutics, Inc. (NASDAQ:ORKA)’s stock price shot up 14.1% during trading on Monday . The company traded as high as $24.18 and last traded at $24.18. 58,333 shares were traded during mid-day trading, a decline of 15% from the average session volume of 68,417 shares. The stock had previously closed at $21.20.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ORKA shares. Wedbush reiterated an “outperform” rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, November 19th. Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Lifesci Capital assumed coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued an “outperform” rating and a $41.00 price target on the stock. Leerink Partners started coverage on Oruka Therapeutics in a report on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They issued a “buy” rating on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $43.17.

Oruka Therapeutics Price Performance

The stock’s 50 day moving average is $25.31.

Institutional Trading of Oruka Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new stake in Oruka Therapeutics in the third quarter worth $343,000. The Manufacturers Life Insurance Company bought a new stake in shares of Oruka Therapeutics in the 3rd quarter worth $1,037,000. Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics in the third quarter worth $2,013,000. Janus Henderson Group PLC bought a new position in shares of Oruka Therapeutics during the third quarter valued at $5,840,000. Finally, Redmile Group LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at $10,091,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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.