Lawrence Otto Klein Sells 2,452 Shares of Oruka Therapeutics (NASDAQ:ORKA) Stock

Key Points

• CEO Lawrence Klein sold 2,452 Oruka Therapeutics shares for approximately $234,681 at an average price of $95.71, reducing his position by 0.26%. The sale was made to cover tax withholding obligations tied to vested equity awards.
• Oruka shares fell 3.9% to $92.20, while the company reported a quarterly loss of $0.55 per share, missing analyst expectations of a $0.51 loss.
• Institutional investors own 56.44% of the company, and analysts maintain a generally positive outlook: 10 rate the stock Buy and one rates it Sell, with an average price target of $133.

Oruka Therapeutics, Inc. (NASDAQ:ORKA - Get Free Report) CEO Lawrence Klein sold 2,452 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $95.71, for a total transaction of $234,680.92. Following the transaction, the chief executive officer owned 923,128 shares in the company, valued at approximately $88,352,580.88. The trade was a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lawrence Otto Klein also recently made the following trade(s):

• On Tuesday, September 1st, Lawrence Klein sold 75,000 shares of Oruka Therapeutics stock. The shares were sold at an average price of $91.83, for a total value of $6,887,250.00.

Oruka Therapeutics Trading Down 3.9%

Shares of ORKA traded down $3.73 during trading hours on Tuesday, reaching $92.20. 784,617 shares of the stock traded hands, compared to its average volume of 741,278. Oruka Therapeutics, Inc. has a 52 week low of $14.66 and a 52 week high of $115.51. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -45.42 and a beta of -0.34. The stock has a fifty day simple moving average of $95.87 and a 200 day simple moving average of $72.78.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). Analysts predict that Oruka Therapeutics, Inc. will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oruka Therapeutics

A number of large investors have recently added to or reduced their stakes in ORKA. BlackRock Inc. bought a new stake in Oruka Therapeutics during the second quarter valued at approximately $474,916,000. Remedium Capital Partners LLC raised its stake in Oruka Therapeutics by 0.9% during the 1st quarter. Remedium Capital Partners LLC now owns 1,565,661 shares of the company's stock valued at $76,796,000 after purchasing an additional 13,247 shares during the period. Perceptive Advisors LLC grew its holdings in Oruka Therapeutics by 16.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,476,501 shares of the company's stock valued at $44,753,000 after buying an additional 208,480 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Oruka Therapeutics in the second quarter worth $130,968,000. Finally, Avidity Partners Management LP lifted its holdings in shares of Oruka Therapeutics by 15.1% in 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. Institutional investors own 56.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ORKA shares. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Oruka Therapeutics in a research note on Thursday, September 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Wedbush reiterated an "outperform" rating and issued a $165.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Oruka Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. Finally, UBS Group raised their price objective on Oruka Therapeutics from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Oruka Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $133.00.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc NASDAQ: ORKA is a clinical-stage biotechnology company developing long-acting monoclonal antibody therapies for immune-mediated diseases. The company's research is focused on creating medicines that may allow less frequent dosing than existing biologic treatments.

Oruka's initial development programs are aimed at inflammatory conditions, including psoriasis. Its pipeline includes engineered antibody candidates designed to target important immune pathways, including interleukin-23 and interleukin-17.

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