Perceptive Advisors LLC Sells 81,000 Shares of Oruka Therapeutics, Inc. $ORKA

Key Points

• Perceptive Advisors reduced its Oruka Therapeutics stake by 5.5%, selling 81,000 shares in the first quarter and retaining 1.40 million shares worth approximately $68.4 million. Institutional investors collectively own 56.44% of ORKA.
• Oruka shares opened at $96.51, near their 52-week high of $99, with the stock’s market capitalization at about $5.82 billion. The company beat quarterly EPS expectations, reporting a loss of $0.48 versus the anticipated $0.52 loss.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $134.30. However, insiders sold 188,406 shares worth roughly $12.0 million during the quarter.

Perceptive Advisors LLC trimmed its stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,395,501 shares of the company's stock after selling 81,000 shares during the quarter. Oruka Therapeutics makes up about 1.3% of Perceptive Advisors LLC's portfolio, making the stock its 22nd biggest holding. Perceptive Advisors LLC owned 2.31% of Oruka Therapeutics worth $68,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORKA. Avidity Partners Management LP grew its position in Oruka Therapeutics by 15.1% during the first quarter. Avidity Partners Management LP now owns 760,424 shares of the company's stock worth $37,299,000 after buying an additional 100,000 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Oruka Therapeutics by 11.7% during the 1st quarter. Glenmede Trust Co. NA now owns 21,772 shares of the company's stock worth $1,068,000 after buying an additional 2,287 shares in the last quarter. Remedium Capital Partners LLC increased its position in Oruka Therapeutics by 0.9% in the 1st quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company's stock valued at $76,796,000 after buying an additional 13,247 shares in the last quarter. Royal Bank of Canada increased its stake in Oruka Therapeutics by 178.5% during the 1st quarter. Royal Bank of Canada now owns 3,172 shares of the company's stock valued at $155,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Rock Springs Capital Management LP purchased a new stake in shares of Oruka Therapeutics in the first quarter worth approximately $202,000. 56.44% of the stock is owned by institutional investors.

Oruka Therapeutics Stock Performance

Shares of NASDAQ ORKA opened at $96.51 on Friday. The company's fifty day moving average price is $78.73 and its 200 day moving average price is $57.77. Oruka Therapeutics, Inc. has a 1 year low of $12.84 and a 1 year high of $99.00. The company has a market capitalization of $5.82 billion, a PE ratio of -49.75 and a beta of -0.35.

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

Analyst Upgrades and Downgrades

ORKA has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and set a $120.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, June 23rd. Leerink Partners set a $120.00 price target on Oruka Therapeutics in a research note on Thursday, April 30th. BTIG Research reaffirmed a "buy" rating and set a $151.00 target price on shares of Oruka Therapeutics in a report on Monday, July 13th. UBS Group boosted their price target on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Oruka Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.30.

Insider Activity

In related news, CEO Lawrence Otto Klein sold 1,729 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.69, for a total transaction of $120,494.01. Following the transaction, the chief executive officer owned 925,580 shares of the company's stock, valued at approximately $64,503,670.20. This represents a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Agarwal sold 10,290 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $59.07, for a total value of $607,830.30. Following the sale, the senior vice president owned 16,406 shares in the company, valued at approximately $969,102.42. This trade represents a 38.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 188,406 shares of company stock valued at $12,019,683. Company insiders own 23.49% of the company's stock.

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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