Palo Alto Investors LP Buys New Stake in Oruka Therapeutics, Inc. $ORKA

Palo Alto Investors LP purchased a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,546 shares of the company’s stock, valued at approximately $3,192,573,000. Oruka Therapeutics accounts for 0.4% of Palo Alto Investors LP’s holdings, making the stock its 29th largest position. Palo Alto Investors LP owned about 0.05% of Oruka Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ORKA. Algert Global LLC grew its stake in Oruka Therapeutics by 3.5% during the 2nd quarter. Algert Global LLC now owns 5,380 shares of the company’s stock worth $512,000 after purchasing an additional 180 shares in the last quarter. Royal Bank of Canada raised its position in Oruka Therapeutics by 47.2% in the 4th 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 in the last quarter. Kennedy Capital Management LLC raised its position in Oruka Therapeutics by 0.9% in the 4th quarter. Kennedy Capital Management LLC now owns 48,686 shares of the company’s stock valued at $1,476,000 after purchasing an additional 420 shares in the last quarter. AlphaCentric Advisors LLC boosted its stake in shares of Oruka Therapeutics by 5.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 11,506 shares of the company’s stock valued at $564,000 after buying an additional 626 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Oruka Therapeutics by 35.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,041 shares of the company’s stock valued at $92,000 after buying an additional 788 shares during the period. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Price Performance

ORKA stock opened at $96.54 on Friday. The company has a market cap of $6.39 billion, a price-to-earnings ratio of -47.56 and a beta of -0.34. The company has a fifty day moving average price of $94.23 and a 200 day moving average price of $67.34. Oruka Therapeutics, Inc. has a 12 month low of $14.61 and a 12 month high of $115.51.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, analysts anticipate that Oruka Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Insider Activity

In related news, Director Carl Dambkowski sold 22,417 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $70.13, for a total transaction of $1,572,104.21. Following the transaction, the director owned 51,326 shares of the company’s stock, valued at $3,599,492.38. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $69.28, for a total transaction of $550,568.16. Following the transaction, the insider directly owned 32,718 shares in the company, valued at approximately $2,266,703.04. This trade represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 83,116 shares of company stock valued at $6,636,533. Corporate insiders own 23.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORKA. Guggenheim reiterated a “buy” rating and set a $200.00 price target on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Wedbush restated an “outperform” rating and issued a $165.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $151.00 price objective on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Oruka Therapeutics in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus 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.