Bank of America Corp DE Sells 39,181 Shares of Oruka Therapeutics, Inc. $ORKA

Bank of America Corp DE trimmed its stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 28.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,091 shares of the company's stock after selling 39,181 shares during the period. Bank of America Corp DE owned about 0.17% of Oruka Therapeutics worth $4,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ORKA. Viking Global Investors LP acquired a new position in shares of Oruka Therapeutics during the third quarter valued at about $51,280,000. Deep Track Capital LP lifted its position in Oruka Therapeutics by 38.4% in the 3rd quarter. Deep Track Capital LP now owns 2,654,781 shares of the company's stock valued at $51,051,000 after acquiring an additional 735,983 shares in the last quarter. Vanguard Group Inc. lifted its position in Oruka Therapeutics by 38.1% in the 4th quarter. Vanguard Group Inc. now owns 2,453,530 shares of the company's stock valued at $74,366,000 after acquiring an additional 676,865 shares in the last quarter. RTW Investments LP raised its stake in shares of Oruka Therapeutics by 5.8% in the fourth quarter. RTW Investments LP now owns 2,058,148 shares of the company's stock worth $62,382,000 after purchasing an additional 112,499 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new position in shares of Oruka Therapeutics in the fourth quarter valued at approximately $51,840,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Oruka Therapeutics Trading Down 5.6%

NASDAQ ORKA opened at $91.14 on Friday. The stock has a market cap of $6.03 billion, a P/E ratio of -44.90 and a beta of -0.34. Oruka Therapeutics, Inc. has a 12 month low of $14.61 and a 12 month high of $115.51. The stock's fifty day moving average price is $94.60 and its 200-day moving average price is $67.51.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.04). As a group, analysts forecast that Oruka Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Arjun Agarwal sold 10,000 shares of Oruka Therapeutics stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $106.66, for a total value of $1,066,600.00. Following the completion of the transaction, the senior vice president owned 15,312 shares in the company, valued at approximately $1,633,177.92. The trade was a 39.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Dambkowski sold 22,417 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $70.13, for a total value of $1,572,104.21. Following the transaction, the director owned 51,326 shares of the company's stock, valued at approximately $3,599,492.38. The trade was a 30.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 83,116 shares of company stock valued at $6,636,533. 23.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ORKA. BTIG Research reiterated a "buy" rating and set a $151.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Guggenheim reaffirmed a "buy" rating and set a $200.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. UBS Group raised their price objective on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Weiss Ratings upgraded Oruka Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Oruka Therapeutics in a report on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Oruka Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.30.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of novel peptide‐based therapies for oncology. The company's proprietary stapled peptide platform is designed to selectively disrupt intracellular protein–protein interactions that drive tumor growth and immune evasion. By combining the specificity of biologics with the cell‐permeability of small molecules, Oruka aims to target cancer pathways that have been historically considered “undruggable.”

The company's lead candidate, ONCT-01, is currently in Phase 1 clinical trials for patients with advanced solid tumors, assessing safety, tolerability and preliminary efficacy.

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