J. Goldman & Co LP Makes New Investment in Oruka Therapeutics, Inc. $ORKA

Key Points

• Institutional interest increased: J. Goldman & Co. LP purchased approximately $1.18 million of Oruka Therapeutics shares in the second quarter, while several other institutions also initiated positions. Institutional investors now own 56.44% of the company.
• Insiders have been selling: Company insiders sold 83,116 shares worth about $6.64 million over the past three months, including transactions by an insider and a director under pre-arranged Rule 10b5-1 plans.
• Analyst outlook remains broadly positive despite losses: Oruka missed quarterly EPS estimates, reporting a loss of $0.55 per share versus the expected $0.51 loss. However, 10 analysts rate the stock Buy and one rates it Sell, with a Moderate Buy consensus and a $134.30 target price compared with its $101.82 opening price.

J. Goldman & Co LP purchased 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 purchased 12,356 shares of the company's stock, valued at approximately $1,176,000.

Other institutional investors have also recently made changes to their positions in the company. ADAR1 Capital Management LLC purchased a new stake in Oruka Therapeutics in the second quarter worth about $1,983,000. Parkman Healthcare Partners LLC purchased a new position in Oruka Therapeutics during the 2nd quarter valued at about $10,772,000. Legal & General Group Plc purchased a new position in Oruka Therapeutics during the 2nd quarter valued at about $2,874,000. The Manufacturers Life Insurance Company purchased a new position in Oruka Therapeutics during the 2nd quarter valued at about $6,512,000. Finally, Algert Global LLC raised its holdings in shares of Oruka Therapeutics by 3.5% in the 2nd quarter. Algert Global LLC now owns 5,380 shares of the company's stock valued at $512,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 56.44% of the company's stock.

Insider Activity at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $69.28, for a total value of $550,568.16. Following the completion of the transaction, the insider owned 32,718 shares of the company's stock, valued at approximately $2,266,703.04. This trade represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carl Dambkowski sold 22,417 shares of Oruka Therapeutics stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $70.13, for a total transaction of $1,572,104.21. Following the sale, the director owned 51,326 shares of the company's stock, valued at $3,599,492.38. The trade was a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 83,116 shares of company stock worth $6,636,533. Corporate insiders own 23.49% of the company's stock.

Oruka Therapeutics Stock Down 0.6%

ORKA opened at $101.82 on Wednesday. Oruka Therapeutics, Inc. has a 52-week low of $14.34 and a 52-week high of $115.51. The company has a market cap of $6.74 billion, a P/E ratio of -50.16 and a beta of -0.34. The firm's 50-day moving average price is $93.17 and its 200-day moving average price is $66.41.

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

Wall Street Analysts Forecast Growth

ORKA has been the subject of several research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Guggenheim reissued a "buy" rating and set a $200.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Weiss Ratings raised shares of Oruka Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. BTIG Research restated a "buy" rating and set a $151.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.30.

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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