Freestone Grove Partners LP Takes $2.13 Million Position in Oruka Therapeutics, Inc. $ORKA

Key Points

• Freestone Grove Partners acquired 22,421 Oruka Therapeutics shares worth approximately $2.13 million in the second quarter. Institutional investors and hedge funds now own 56.44% of ORKA.
• Insiders have sold 83,116 shares valued at $6.64 million over the past 90 days, while insiders retain a 23.49% ownership stake.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $134.30, compared with ORKA’s reported opening price of $91.14.

Freestone Grove Partners LP acquired a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,421 shares of the company's stock, valued at approximately $2,134,000.

Several other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new stake in Oruka Therapeutics in the 1st quarter valued at about $2,505,000. JPMorgan Chase & Co. boosted its holdings in Oruka Therapeutics by 567.7% in the second quarter. JPMorgan Chase & Co. now owns 15,425 shares of the company's stock worth $173,000 after acquiring an additional 13,115 shares in the last quarter. Legal & General Group Plc bought a new position in Oruka Therapeutics in the second quarter worth approximately $28,000. Rhumbline Advisers acquired a new stake in Oruka Therapeutics in the second quarter valued at approximately $320,000. Finally, New York State Common Retirement Fund acquired a new stake in Oruka Therapeutics in the second quarter valued at approximately $96,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 10,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $106.66, for a total transaction of $1,066,600.00. Following the transaction, the senior vice president directly owned 15,312 shares in the company, valued at approximately $1,633,177.92. This trade represents a 39.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Otto Klein sold 1,729 shares of Oruka Therapeutics stock in a transaction on Monday, June 15th. The stock was sold at an average price of $69.69, for a total transaction of $120,494.01. Following the transaction, the chief executive officer directly owned 925,580 shares in the company, valued at $64,503,670.20. This represents a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 83,116 shares of company stock valued at $6,636,533 in the last 90 days. Insiders own 23.49% of the company's stock.

Analyst Ratings Changes

ORKA has been the topic of a number of research reports. Weiss Ratings raised Oruka Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 15th. UBS Group lifted their price target on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Wedbush restated an "outperform" rating and set a $165.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, August 11th. BTIG Research restated a "buy" rating and set a $151.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $134.30.

Oruka Therapeutics Stock Performance

Shares of ORKA opened at $91.14 on Friday. The firm has a market capitalization of $6.03 billion, a P/E ratio of -44.90 and a beta of -0.34. Oruka Therapeutics, Inc. has a 52 week low of $14.61 and a 52 week high of $115.51. The stock has a 50 day moving average price of $94.60 and a two-hundred day moving average price of $67.51.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.04). On average, equities analysts forecast that Oruka Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Oruka Therapeutics Company Profile

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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