Remedium Capital Partners LLC Raises Holdings in Oruka Therapeutics, Inc. $ORKA

Key Points

• Remedium Capital Partners increased its Oruka Therapeutics stake by 0.9% to 1.57 million shares, worth approximately $76.8 million. Oruka represents 26.8% of the firm’s portfolio, while institutional investors collectively own 56.44% of the stock.
• Analyst sentiment remains positive, with 10 analysts rating Oruka a Buy and one rating it a Sell. The stock has an average target price of $134.30, compared with a recent opening price of $97.86.
• Oruka shares have risen sharply, trading near their 52-week high, while insiders have sold 188,406 shares worth about $12.0 million over the past 90 days. The clinical-stage biotechnology company is developing peptide-based cancer therapies, including lead candidate ONCT-01 in Phase 1 trials.

Remedium Capital Partners LLC raised its stake in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,565,661 shares of the company's stock after purchasing an additional 13,247 shares during the period. Oruka Therapeutics accounts for about 26.8% of Remedium Capital Partners LLC's portfolio, making the stock its biggest position. Remedium Capital Partners LLC owned about 2.60% of Oruka Therapeutics worth $76,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Oruka Therapeutics during the 2nd quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its position in Oruka Therapeutics by 464.0% in the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock worth $31,000 after buying an additional 2,306 shares during the last quarter. Royal Bank of Canada lifted its position in Oruka Therapeutics by 47.2% in the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company's stock worth $34,000 after buying an additional 365 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Oruka Therapeutics during the fourth quarter valued at $37,000. Finally, PNC Financial Services Group Inc. bought a new position in Oruka Therapeutics during the third quarter valued at $39,000. 56.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Carl Dambkowski sold 12,583 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $70.11, for a total transaction of $882,194.13. Following the sale, the director owned 38,743 shares of the company's stock, valued at $2,716,271.73. This trade represents a 24.52% 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 Otto Klein sold 1,729 shares of Oruka Therapeutics stock in a transaction dated Monday, June 15th. The shares were 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 trade represents a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 188,406 shares of company stock valued at $12,019,683. Company insiders own 23.49% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush set a $165.00 target price on shares of Oruka Therapeutics in a report on Monday, April 27th. Leerink Partners set a $120.00 price objective on shares of Oruka Therapeutics in a research report on Thursday, April 30th. Guggenheim set a $200.00 price objective on shares of Oruka Therapeutics and gave the stock a "buy" rating in a research note on Monday, April 27th. HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, June 23rd. Finally, BTIG Research reaffirmed a "buy" rating and set a $151.00 target price on shares of Oruka Therapeutics in a research note on Monday, July 13th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $134.30.

Oruka Therapeutics Stock Up 11.1%

Shares of NASDAQ:ORKA opened at $97.86 on Friday. The firm has a 50 day moving average of $78.01 and a 200 day moving average of $57.50. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -50.44 and a beta of -0.35. Oruka Therapeutics, Inc. has a 52 week low of $12.84 and a 52 week high of $98.44.

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

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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