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Why is Oruka Therapeutics Stock Up Today After Analyst Coverage

Oruka Therapeutics, Inc. (ORKA) saw its stock price rise by 3.72% on February 4, 2025, closing at $14.21 after opening at $14.25. The stock experienced a gap up from the previous close of $13.70, reaching an intraday high of $14.76 before settling. The trading volume was 190,615 shares, which is about 63.76% of the average daily volume. The upward movement was primarily driven by Wolfe Research initiating coverage with an "outperform" rating and a $20 price target, suggesting a potential upside of nearly 46%. This positive sentiment was echoed by other analysts, with Oruka receiving multiple buy ratings and a consensus target price of $39.86, indicating strong institutional confidence in the company's future prospects.

Despite the positive analyst coverage, the stock's performance was somewhat muted compared to its peers, as it did not participate in recent market rallies. The focus remains on Oruka's ability to deliver favorable data for its pipeline products, which could enhance its attractiveness as an M&A candidate. The company's strategic positioning in the biotechnology sector, particularly in developing monoclonal antibody therapeutics, continues to garner interest from institutional investors, with significant recent inflows.