Redmile Group LLC Decreases Stock Position in Oruka Therapeutics, Inc. $ORKA

Key Points

• Redmile Group LLC has reduced its stake in Oruka Therapeutics by 6% in Q1, owning approximately 1.03% of the company valued at $3.97 million as of their latest SEC filing.
• Several institutional investors, including Fairmount Funds and Janus Henderson Group, have increased their stakes in Oruka Therapeutics, reflecting strong interest from the institutional investing community.
• Oruka Therapeutics is currently rated as a "Buy" by multiple analysts, with an average target price of $40.38, although Wall Street Zen recently downgraded the stock to a "sell" rating.

Redmile Group LLC cut its holdings in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,963 shares of the company's stock after selling 24,765 shares during the period. Redmile Group LLC owned approximately 1.03% of Oruka Therapeutics worth $3,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Oruka Therapeutics during the 4th quarter valued at about $54,000. Northern Trust Corp acquired a new position in Oruka Therapeutics during the 4th quarter valued at about $1,242,000. Jane Street Group LLC acquired a new position in Oruka Therapeutics during the 4th quarter valued at about $343,000. Blackstone Inc. acquired a new position in Oruka Therapeutics during the 4th quarter valued at about $4,657,000. Finally, Braidwell LP boosted its stake in Oruka Therapeutics by 122.5% during the 4th quarter. Braidwell LP now owns 1,147,676 shares of the company's stock valued at $22,253,000 after purchasing an additional 631,950 shares during the last quarter. 56.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ORKA shares. BTIG Research started coverage on Oruka Therapeutics in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Wall Street Zen cut shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $40.38.

Oruka Therapeutics Trading Up 9.2%

Shares of Oruka Therapeutics stock traded up $1.38 during trading on Friday, hitting $16.35. The stock had a trading volume of 244,560 shares, compared to its average volume of 143,409. The firm has a market cap of $612.31 million, a price-to-earnings ratio of -5.82 and a beta of -0.26. Oruka Therapeutics, Inc. has a 12 month low of $5.49 and a 12 month high of $31.13. The business's 50-day moving average is $14.26 and its 200 day moving average is $11.83.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.02. As a group, equities analysts expect that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

About Oruka Therapeutics

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.