Oruka Therapeutics, Inc. $ORKA Position Increased by Perceptive Advisors LLC

Key Points

• Perceptive Advisors increased its Oruka Therapeutics stake by 16.4% in the fourth quarter, buying 208,480 more shares and bringing its holdings to 1,476,501 shares worth about $44.8 million.
• Several other institutional investors also added to positions, and 56.44% of the stock is now owned by institutions, suggesting strong hedge fund interest in the company.
• Insiders, including CEO Lawrence Otto Klein and SVP Arjun Agarwal, recently sold shares to cover tax obligations tied to equity awards, while analysts currently rate ORKA a Moderate Buy with an average price target of $131.30.

Perceptive Advisors LLC raised its holdings in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,476,501 shares of the company's stock after buying an additional 208,480 shares during the period. Perceptive Advisors LLC owned about 3.05% of Oruka Therapeutics worth $44,753,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fairmount Funds Management LLC boosted its stake in Oruka Therapeutics by 9.9% in the 3rd quarter. Fairmount Funds Management LLC now owns 3,705,262 shares of the company's stock worth $71,252,000 after purchasing an additional 333,340 shares during the period. Viking Global Investors LP purchased a new stake in shares of Oruka Therapeutics in the third quarter valued at $51,280,000. Deep Track Capital LP lifted its holdings in shares of Oruka Therapeutics by 38.4% in the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company's stock valued at $51,051,000 after purchasing an additional 735,983 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Oruka Therapeutics by 38.1% in the fourth quarter. Vanguard Group Inc. now owns 2,453,530 shares of the company's stock valued at $74,366,000 after purchasing an additional 676,865 shares in the last quarter. Finally, Commodore Capital LP lifted its holdings in shares of Oruka Therapeutics by 23.5% in the third quarter. Commodore Capital LP now owns 1,753,054 shares of the company's stock valued at $33,711,000 after purchasing an additional 333,340 shares in the last quarter. 56.44% of the stock is currently owned by institutional investors.

Insider Activity at Oruka Therapeutics

In other Oruka Therapeutics news, SVP Arjun Agarwal sold 395 shares of Oruka Therapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $69.69, for a total transaction of $27,527.55. Following the completion of the sale, the senior vice president owned 16,899 shares of the company's stock, valued at $1,177,691.31. This trade represents a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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, CEO Lawrence Otto Klein sold 1,729 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $69.69, for a total value of $120,494.01. Following the completion of the transaction, the chief executive officer owned 925,580 shares in the company, valued at $64,503,670.20. This represents a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 183,820 shares of company stock worth $11,507,840. Corporate insiders own 23.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ORKA shares. Piper Sandler restated an "overweight" rating and issued a $180.00 target price on shares of Oruka Therapeutics in a report on Tuesday, June 2nd. Wedbush set a $165.00 target price on Oruka Therapeutics in a report on Monday, April 27th. Wall Street Zen lowered Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. HC Wainwright restated a "buy" rating on shares of Oruka Therapeutics in a report on Wednesday, June 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Oruka Therapeutics in a report on Tuesday, April 21st. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.30.

Oruka Therapeutics Stock Up 4.7%

Shares of NASDAQ:ORKA opened at $70.88 on Thursday. The firm has a fifty day moving average of $64.29 and a two-hundred day moving average of $44.86. The firm has a market capitalization of $4.27 billion, a P/E ratio of -36.54 and a beta of -0.26. Oruka Therapeutics, Inc. has a 12-month low of $10.77 and a 12-month high of $91.00.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.04. Equities research analysts expect that Oruka Therapeutics, Inc. will post -2.06 earnings per share for the current fiscal year.

About Oruka Therapeutics

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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