Persistent Asset Partners Ltd Buys New Stake in Oruka Therapeutics, Inc. $ORKA

Persistent Asset Partners Ltd purchased a new stake in Oruka Therapeutics, Inc. (NASDAQ:ORKA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,085 shares of the company’s stock, valued at approximately $674,000.

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

Analyst Ratings Changes

ORKA has been the subject of several recent research 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. Wedbush restated 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. Wall Street Zen lowered shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday. Finally, UBS Group boosted their target price 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. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.30.

Oruka Therapeutics Price Performance

NASDAQ:ORKA opened at $111.04 on Monday. Oruka Therapeutics, Inc. has a 52 week low of $14.08 and a 52 week high of $111.37. The stock has a market capitalization of $7.35 billion, a PE ratio of -54.70 and a beta of -0.34. The stock’s 50-day moving average price is $87.52 and its 200-day moving average price is $62.81.

Oruka Therapeutics (NASDAQ:ORKA) last announced its quarterly earnings results 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). Sell-side analysts expect that Oruka Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lawrence Otto Klein sold 1,729 shares of the business’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 in the company, valued at $64,503,670.20. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Agarwal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $106.66, for a total value of $1,066,600.00. Following the completion of the sale, the senior vice president owned 15,312 shares of the company’s stock, valued at $1,633,177.92. This trade represents a 39.51% 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. Insiders sold a total of 181,116 shares of company stock valued at $12,045,503 in the last three months. 23.49% of the stock is currently owned by company insiders.

Oruka Therapeutics 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.