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

Several other institutional investors and hedge funds also recently made changes to their positions in ORKA. JPMorgan Chase & Co. bought a new stake in Oruka Therapeutics in the fourth quarter valued at about $54,000. Cannon Global Investment Management LLC bought a new stake in Oruka Therapeutics in the first quarter valued at about $195,000. Squarepoint Ops LLC bought a new stake in Oruka Therapeutics in the fourth quarter valued at about $236,000. Jane Street Group LLC bought a new stake in Oruka Therapeutics in the fourth quarter valued at about $343,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Oruka Therapeutics in the fourth quarter valued at about $384,000. Institutional investors own 56.44% of the company's stock.

Oruka Therapeutics Trading Down 1.8%

Shares of ORKA traded down $0.28 during mid-day trading on Friday, hitting $15.00. 7,365 shares of the company traded hands, compared to its average volume of 243,192. Oruka Therapeutics, Inc. has a one year low of $5.49 and a one year high of $33.00. The business has a 50-day moving average of $13.79 and a 200 day moving average of $11.66. The stock has a market capitalization of $561.56 million, a price-to-earnings ratio of -5.34 and a beta of -0.35.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, August 12th. BTIG Research assumed coverage on shares of Oruka Therapeutics in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $40.38.

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.