Perceptive Advisors LLC Reduces Stock Position in Oruka Therapeutics, Inc. $ORKA

Perceptive Advisors LLC lessened its holdings in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) by 5.5% during the first quarter, HoldingsChannel reports. The firm owned 1,395,501 shares of the company’s stock after selling 81,000 shares during the quarter. Oruka Therapeutics accounts for approximately 1.3% of Perceptive Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Perceptive Advisors LLC’s holdings in Oruka Therapeutics were worth $68,449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ORKA. Legal & General Group Plc acquired a new stake in shares of Oruka Therapeutics during the 2nd quarter worth $28,000. BNP Paribas Financial Markets boosted its stake in Oruka Therapeutics by 464.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company’s stock valued at $31,000 after acquiring an additional 2,306 shares during the last quarter. Royal Bank of Canada increased its stake in Oruka Therapeutics by 47.2% during the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock valued at $34,000 after purchasing an additional 365 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Oruka Therapeutics in the fourth quarter worth $37,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Oruka Therapeutics during the third quarter valued at about $39,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.28, for a total transaction of $550,568.16. Following the completion of the sale, the insider directly owned 32,718 shares of the company’s stock, valued at approximately $2,266,703.04. The trade was a 19.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Lawrence Otto Klein sold 1,729 shares of Oruka Therapeutics stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $69.69, for a total transaction of $120,494.01. Following the sale, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 188,406 shares of company stock valued at $12,019,683 in the last three months. Company insiders own 23.49% of the company’s stock.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $96.51 on Friday. Oruka Therapeutics, Inc. has a 52 week low of $12.84 and a 52 week high of $99.00. The business’s fifty day moving average is $78.73 and its two-hundred day moving average is $57.77. The firm has a market cap of $5.82 billion, a P/E ratio of -49.75 and a beta of -0.35.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.04. On average, equities research analysts predict that Oruka Therapeutics, Inc. will post -2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ORKA shares. BTIG Research reiterated a “buy” rating and issued a $151.00 target price on shares of Oruka Therapeutics in a report on Monday, July 13th. Wall Street Zen cut Oruka Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wedbush set a $165.00 price objective on shares of Oruka Therapeutics in a report on Monday, April 27th. Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Oruka Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $134.30.

Oruka Therapeutics Company 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.