Oruka Therapeutics (NASDAQ:ORKA) Shares Gap Up - What's Next?

Key Points

• Oruka Therapeutics shares experienced a significant jump, opening at $16.75 after closing at $15.20, with recent trading volumes reported at 223,931 shares.
• Analysts have set new price targets for Oruka Therapeutics, with a consensus target price of $42.00 and various ratings from different firms, including a "buy" rating with a target of $56.00 from BTIG Research.
• The company has reported a quarterly EPS of ($0.46), exceeding estimates, while around 56.44% of the stock is held by institutional investors and hedge funds, indicating strong interest in the stock.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $15.20, but opened at $16.75. Oruka Therapeutics shares last traded at $16.91, with a volume of 223,931 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Oruka Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. HC Wainwright restated a "buy" rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a report on Monday, August 18th. Wedbush restated an "outperform" rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Finally, BTIG Research restated a "buy" rating and issued a $56.00 price objective on shares of Oruka Therapeutics in a report on Monday. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $42.00.

Oruka Therapeutics Price Performance

The stock has a market cap of $729.94 million, a PE ratio of -7.06 and a beta of -0.26. The company has a 50-day simple moving average of $14.90 and a 200-day simple moving average of $12.38.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.46) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.02. On average, equities analysts expect that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Oruka Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP raised its position in shares of Oruka Therapeutics by 37.0% in the 1st quarter. Braidwell LP now owns 1,572,426 shares of the company's stock valued at $16,133,000 after purchasing an additional 424,750 shares in the last quarter. Franklin Resources Inc. increased its position in Oruka Therapeutics by 40.6% in the second quarter. Franklin Resources Inc. now owns 1,012,968 shares of the company's stock worth $11,355,000 after buying an additional 292,421 shares during the period. Geode Capital Management LLC grew its stake in shares of Oruka Therapeutics by 100.6% in the second quarter. Geode Capital Management LLC now owns 707,406 shares of the company's stock worth $7,932,000 after purchasing an additional 354,821 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in shares of Oruka Therapeutics by 10.7% in the second quarter. Affinity Asset Advisors LLC now owns 603,479 shares of the company's stock worth $6,765,000 after purchasing an additional 58,117 shares in the last quarter. Finally, Cable Car Capital LP lifted its holdings in shares of Oruka Therapeutics by 33.3% during the second quarter. Cable Car Capital LP now owns 600,000 shares of the company's stock valued at $6,726,000 after purchasing an additional 150,000 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.