The Manufacturers Life Insurance Company Boosts Stock Position in Oruka Therapeutics, Inc. $ORKA

The Manufacturers Life Insurance Company lifted its stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA) by 18.3% in the first quarter, Holdings Channel.com reports. The fund owned 72,563 shares of the company’s stock after purchasing an additional 11,205 shares during the period. The Manufacturers Life Insurance Company’s holdings in Oruka Therapeutics were worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Viking Global Investors LP purchased a new position in shares of Oruka Therapeutics in the third quarter valued at $51,280,000. Deep Track Capital LP lifted its holdings in Oruka Therapeutics by 38.4% during the 3rd quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock worth $51,051,000 after purchasing an additional 735,983 shares in the last quarter. Vanguard Group Inc. boosted its stake in Oruka Therapeutics by 38.1% in the 4th quarter. Vanguard Group Inc. now owns 2,453,530 shares of the company’s stock worth $74,366,000 after purchasing an additional 676,865 shares during the period. RTW Investments LP boosted its stake in Oruka Therapeutics by 5.8% in the 4th quarter. RTW Investments LP now owns 2,058,148 shares of the company’s stock worth $62,382,000 after purchasing an additional 112,499 shares during the period. Finally, Paradigm Biocapital Advisors LP purchased a new position in Oruka Therapeutics during the 4th quarter valued at about $51,840,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Oruka Therapeutics Price Performance

Shares of NASDAQ:ORKA opened at $98.82 on Friday. The company’s fifty day moving average price is $82.59 and its 200-day moving average price is $60.06. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -50.94 and a beta of -0.34. Oruka Therapeutics, Inc. has a one year low of $12.84 and a one year high of $100.34.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04. As a group, equities research analysts expect that Oruka Therapeutics, Inc. will post -2.06 EPS for the current year.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,947 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $69.28, for a total value of $550,568.16. Following the completion of the sale, the insider owned 32,718 shares of the company’s stock, valued at $2,266,703.04. This represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $69.69, for a total value of $120,494.01. Following the completion of the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 188,406 shares of company stock valued at $12,019,683 over the last quarter. 23.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ORKA has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. UBS Group boosted their price objective on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Guggenheim set a $200.00 target price on shares of Oruka Therapeutics and gave the stock a “buy” rating in a report on Monday, April 27th. BTIG Research reiterated a “buy” rating and issued a $151.00 target price on shares of Oruka Therapeutics in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Oruka Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.30.

About Oruka Therapeutics

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.