Oruka Therapeutics, Inc. $ORKA Stock Position Increased by Avidity Partners Management LP

Key Points

• Avidity Partners increased its Oruka Therapeutics stake by 15.1% in the first quarter, adding 100,000 shares to own 760,424 shares worth approximately $37.3 million. Institutional investors and hedge funds collectively own 56.44% of the company.
• Oruka shares opened at $96.51, near their 12-month high of $99.00, while the company reported a quarterly loss of $0.48 per share—better than analysts’ expected $0.52 loss.
• Wall Street remains broadly bullish, with 10 analysts rating the stock a Buy and one rating it a Sell; the consensus rating is Moderate Buy with an average price target of $134.30.

Avidity Partners Management LP lifted its holdings in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 760,424 shares of the company's stock after purchasing an additional 100,000 shares during the quarter. Oruka Therapeutics comprises about 7.4% of Avidity Partners Management LP's holdings, making the stock its 3rd biggest holding. Avidity Partners Management LP owned about 1.26% of Oruka Therapeutics worth $37,299,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Oruka Therapeutics by 47.2% in the 4th quarter. Royal Bank of Canada now owns 1,139 shares of the company's stock valued at $34,000 after purchasing an additional 365 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Oruka Therapeutics during the fourth quarter worth $37,000. PNC Financial Services Group Inc. acquired a new position in shares of Oruka Therapeutics during the third quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new position in Oruka Therapeutics in the fourth quarter valued at $67,000. Finally, Russell Investments Group Ltd. purchased a new position in Oruka Therapeutics in the third quarter valued at $43,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Oruka Therapeutics Trading Down 1.4%

Shares of ORKA stock opened at $96.51 on Friday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -49.75 and a beta of -0.35. The firm has a 50-day moving average price of $78.73 and a 200 day moving average price of $57.77. Oruka Therapeutics, Inc. has a twelve month low of $12.84 and a twelve month high of $99.00.

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

Insider Activity at Oruka Therapeutics

In related news, insider Joana Goncalves sold 7,947 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 32,718 shares in the company, 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, SVP Arjun Agarwal sold 9,999 shares of Oruka Therapeutics stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $84.63, for a total transaction of $846,215.37. Following the transaction, the senior vice president directly owned 15,312 shares in the company, valued at approximately $1,295,854.56. This trade represents a 39.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 188,406 shares of company stock valued at $12,019,683 in the last ninety days. 23.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Guggenheim set a $200.00 price objective on Oruka Therapeutics and gave the company a "buy" rating in a report on Monday, April 27th. Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. Barclays raised their price objective on shares of Oruka Therapeutics from $78.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Leerink Partners set a $120.00 target price on shares of Oruka Therapeutics in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Oruka Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 15th. Ten research 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.30.

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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