Oruka Therapeutics, Inc. (NASDAQ:ORKA) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 65.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,200 shares of the company's stock after selling 130,800 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.20% of Oruka Therapeutics worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in shares of Oruka Therapeutics in the 4th quarter valued at about $54,000. AlphaCentric Advisors LLC purchased a new position in Oruka Therapeutics during the fourth quarter valued at approximately $119,000. China Universal Asset Management Co. Ltd. acquired a new position in Oruka Therapeutics in the fourth quarter valued at approximately $144,000. Charles Schwab Investment Management Inc. purchased a new stake in Oruka Therapeutics in the 4th quarter worth approximately $303,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Oruka Therapeutics during the 3rd quarter worth approximately $343,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oruka Therapeutics

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par acquired 88,794 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $11.44 per share, with a total value of $1,015,803.36. Following the transaction, the insider now owns 4,148,428 shares of the company's stock, valued at $47,458,016.32. This trade represents a 2.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have acquired 98,339 shares of company stock worth $1,128,456 over the last quarter. 22.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORKA. Wedbush reissued an "outperform" rating and set a $40.00 price target on shares of Oruka Therapeutics in a report on Friday, March 7th. Wolfe Research began coverage on Oruka Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $20.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $45.00 price target on shares of Oruka Therapeutics in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $39.86.

Oruka Therapeutics Trading Up 1.7 %

Oruka Therapeutics stock opened at $10.45 on Wednesday. The company has a 50-day moving average price of $10.02 and a 200 day moving average price of $16.53. Oruka Therapeutics, Inc. has a 12-month low of $5.49 and a 12-month high of $31.13. The stock has a market cap of $391.26 million, a P/E ratio of -1.67 and a beta of 0.47.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.19. As a group, analysts forecast that Oruka Therapeutics, Inc. will post -3.41 EPS for the current year.

Oruka Therapeutics Profile

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.

Want to see what other hedge funds are holding ORKA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.