Blackstone Inc. Takes Position in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Blackstone Inc. purchased a new position in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 240,174 shares of the company's stock, valued at approximately $4,657,000. Blackstone Inc. owned about 0.69% of Oruka Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ORKA. JPMorgan Chase & Co. acquired a new stake in Oruka Therapeutics during the fourth quarter worth about $54,000. AlphaCentric Advisors LLC bought a new stake in shares of Oruka Therapeutics in the 4th quarter worth approximately $119,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Oruka Therapeutics in the 4th quarter worth approximately $144,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Oruka Therapeutics during the 4th quarter worth approximately $303,000. Finally, Geode Capital Management LLC bought a new stake in shares of Oruka Therapeutics during the third quarter valued at approximately $343,000. Institutional investors own 56.44% of the company's stock.

Oruka Therapeutics Trading Up 2.2 %

ORKA stock traded up $0.21 during trading on Thursday, hitting $9.75. 120,688 shares of the stock traded hands, compared to its average volume of 232,339. The stock has a market cap of $365.05 million, a price-to-earnings ratio of -1.56 and a beta of 0.25. Oruka Therapeutics, Inc. has a one year low of $5.49 and a one year high of $31.13. The company has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $15.70.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.19. As a group, analysts predict that Oruka Therapeutics, Inc. will post -3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Oruka Therapeutics

In related news, major shareholder Venrock Healthcare Capital Par bought 88,794 shares of the company's stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $11.44 per share, with a total value of $1,015,803.36. Following the completion of the purchase, the insider now owns 4,148,428 shares in the company, valued at approximately $47,458,016.32. The trade was a 2.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders acquired 98,339 shares of company stock worth $1,128,456. 22.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wolfe Research started coverage on Oruka Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $20.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price objective on shares of Oruka Therapeutics in a report on Friday, February 7th. Finally, Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research note on Friday, March 7th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $39.86.

Oruka Therapeutics Company Profile

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.