Legal & General Group Plc Purchases Shares of 30,198 Oruka Therapeutics, Inc. $ORKA

Key Points

• Legal & General acquired 30,198 Oruka Therapeutics shares worth approximately $2.87 million in the second quarter. Institutional investors collectively own 56.44% of ORKA.
• Analyst sentiment is broadly positive, with 10 Buy ratings and one Sell rating; the stock carries a “Moderate Buy” consensus and an average price target of $133.
• ORKA reported a quarterly loss of $0.55 per share, missing estimates by $0.04, while insiders sold 158,116 shares worth $13.5 million over the past three months.

Legal & General Group Plc acquired a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,198 shares of the company's stock, valued at approximately $2,874,000.

Several other large investors also recently modified their holdings of ORKA. Goldman Sachs Group Inc. bought a new stake in shares of Oruka Therapeutics during the 1st quarter worth about $2,505,000. JPMorgan Chase & Co. grew its stake in Oruka Therapeutics by 567.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,425 shares of the company's stock valued at $173,000 after buying an additional 13,115 shares during the last quarter. Rhumbline Advisers bought a new position in Oruka Therapeutics in the 2nd quarter valued at about $320,000. New York State Common Retirement Fund bought a new position in Oruka Therapeutics in the 2nd quarter valued at about $96,000. Finally, Invesco Ltd. acquired a new stake in Oruka Therapeutics during the second quarter worth approximately $172,000. 56.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $180.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. Wedbush reissued an "outperform" rating and set a $165.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 11th. UBS Group boosted their price target on Oruka Therapeutics from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Guggenheim reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Oruka Therapeutics in a report on Thursday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $133.00.

Insider Buying and Selling

In other Oruka Therapeutics news, CEO Lawrence Klein sold 75,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total transaction of $6,887,250.00. Following the transaction, the chief executive officer owned 925,580 shares in the company, valued at $84,996,011.40. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.84, for a total value of $782,880.00. Following the completion of the transaction, the insider directly owned 32,718 shares of the company's stock, valued at $3,659,181.12. This represents a 17.62% 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. Over the last three months, insiders sold 158,116 shares of company stock worth $13,523,783. 23.49% of the stock is owned by corporate insiders.

Oruka Therapeutics Stock Up 1.7%

NASDAQ ORKA opened at $92.51 on Friday. The firm has a 50-day moving average price of $95.24 and a two-hundred day moving average price of $69.58. Oruka Therapeutics, Inc. has a 12-month low of $14.66 and a 12-month high of $115.51. The company has a market capitalization of $6.13 billion, a P/E ratio of -45.57 and a beta of -0.34.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Equities analysts expect that Oruka Therapeutics, Inc. will post -2.42 EPS for the current year.

Oruka Therapeutics 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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