Oruka Therapeutics, Inc. $ORKA Stock: Pictet Asset Management Holding SA Decreases Holdings

Key Points

• Pictet Asset Management cut its Oruka Therapeutics stake by 35.1% in the third quarter, selling 217,148 shares and retaining 401,928 shares valued at about $33.5 million.
• Institutional investors made mixed moves: several funds increased or initiated positions, and institutions collectively owned 56.44% of the stock. Analysts’ consensus rating was Moderate Buy, with a $133 average target price.
• Oruka reported a quarterly loss of $0.63 per share, slightly wider than the $0.60 loss analysts expected. Company insiders also sold nearly 180,000 shares over the prior 90 days.

Pictet Asset Management Holding SA cut its holdings in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,928 shares of the company's stock after selling 217,148 shares during the period. Pictet Asset Management Holding SA owned approximately 0.61% of Oruka Therapeutics worth $33,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. AlphaCentric Advisors LLC grew its stake in Oruka Therapeutics by 3.4% during the third quarter. AlphaCentric Advisors LLC now owns 6,752 shares of the company's stock worth $562,000 after purchasing an additional 221 shares during the period. Alps Advisors Inc. increased its holdings in Oruka Therapeutics by 43.8% in the third quarter. Alps Advisors Inc. now owns 87,745 shares of the company's stock worth $7,308,000 after purchasing an additional 26,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Oruka Therapeutics in the third quarter worth approximately $282,000. Profund Advisors LLC lifted its stake in Oruka Therapeutics by 12.0% in the third quarter. Profund Advisors LLC now owns 24,649 shares of the company's stock valued at $2,053,000 after buying an additional 2,637 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Oruka Therapeutics by 25.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,081 shares of the company's stock valued at $992,000 after buying an additional 2,482 shares during the period. 56.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HC Wainwright restated a "buy" rating on shares of Oruka Therapeutics in a report on Tuesday, October 27th. Mizuho set a $120.00 price objective on shares of Oruka Therapeutics in a research note on Thursday, September 3rd. BTIG Research reiterated a "buy" rating and set a $151.00 target price on shares of Oruka Therapeutics in a research report on Tuesday. Wall Street Zen lowered shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Finally, Wedbush restated an "outperform" rating and issued a $165.00 price target on shares of Oruka Therapeutics in a report on Tuesday, October 27th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Oruka Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.00.

Insider Transactions at Oruka Therapeutics

In other news, SVP Arjun Agarwal sold 10,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,633,177.92. This represents a 39.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Klein sold 75,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $91.83, for a total value of $6,887,250.00. Following the completion of the transaction, the chief executive officer owned 925,580 shares in the company, valued at approximately $84,996,011.40. This represents a 7.50% 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. Insiders have sold 179,950 shares of company stock valued at $16,492,680 over the last ninety days. 23.49% of the stock is owned by company insiders.

Oruka Therapeutics Stock Up 4.7%

Shares of Oruka Therapeutics stock opened at $109.50 on Wednesday. Oruka Therapeutics, Inc. has a one year low of $25.23 and a one year high of $115.51. The business has a 50-day simple moving average of $88.82 and a 200 day simple moving average of $71.29.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). Research analysts anticipate that Oruka Therapeutics, Inc. will post -2.42 EPS for the current year.

Oruka Therapeutics Company Profile

Oruka Therapeutics is a clinical-stage biotechnology company developing long-acting antibody medicines for chronic inflammatory skin diseases. Its research focuses on pathways involved in conditions such as plaque psoriasis, with the goal of extending the time between treatments. The company's pipeline includes ORKA-001, an antibody targeting interleukin-23 (IL-23), and ORKA-002, which targets interleukin-17A and interleukin-17F (IL-17A/F). Both programs are being developed as potential treatments for inflammatory skin conditions.

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