Candriam S.C.A. Purchases Shares of 116,698 Oruka Therapeutics, Inc. $ORKA

Key Points

• Candriam S.C.A. acquired 116,698 shares of Oruka Therapeutics, Inc., representing a stake valued at approximately $1.2 million, reaching a total ownership of 0.31% by the end of the reporting period.
• Oruka Therapeutics stock has been rated as a "Buy" by several analysts, with a consensus price target around $40.38, following positive quarterly earnings results that exceeded expectations.
• Institutional investors collectively hold 56.44% of Oruka Therapeutics, with notable contributions from managing entities such as JPMorgan Chase & Co. and Wellington Management Group LLP.

Candriam S.C.A. purchased a new stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 116,698 shares of the company's stock, valued at approximately $1,197,000. Candriam S.C.A. owned 0.31% of Oruka Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of Oruka Therapeutics in the 4th quarter valued at about $54,000. Squarepoint Ops LLC acquired a new stake in shares of Oruka Therapeutics in the fourth quarter valued at about $236,000. Wellington Management Group LLP increased its position in shares of Oruka Therapeutics by 15.8% in the fourth quarter. Wellington Management Group LLP now owns 95,089 shares of the company's stock valued at $1,844,000 after acquiring an additional 12,952 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Oruka Therapeutics in the fourth quarter valued at about $343,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Oruka Therapeutics in the first quarter valued at about $195,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Analyst Upgrades and Downgrades

ORKA has been the topic of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 12th. BTIG Research initiated coverage on Oruka Therapeutics in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Wall Street Zen downgraded Oruka Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, Oruka Therapeutics presently has a consensus rating of "Buy" and an average price target of $40.38.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $15.44 on Friday. Oruka Therapeutics, Inc. has a 52 week low of $5.49 and a 52 week high of $52.32. The stock has a market capitalization of $578.23 million, a P/E ratio of -5.49 and a beta of -0.35. The stock has a 50-day simple moving average of $13.56 and a 200 day simple moving average of $11.57.

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

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.

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