The Manufacturers Life Insurance Company Acquires New Shares in Oruka Therapeutics, Inc. $ORKA

The Manufacturers Life Insurance Company acquired a new position in Oruka Therapeutics, Inc. (NASDAQ:ORKA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 68,421 shares of the company’s stock, valued at approximately $6,512,000. The Manufacturers Life Insurance Company owned approximately 0.10% of Oruka Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Royal Bank of Canada lifted its position 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 period. Los Angeles Capital Management LLC bought a new stake in Oruka Therapeutics in the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. bought a new stake in Oruka Therapeutics in the 3rd quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in Oruka Therapeutics during the 4th quarter valued at $67,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Oruka Therapeutics during the 2nd quarter valued at $211,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORKA shares. Wedbush restated an “outperform” rating and issued a $165.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, August 11th. Wall Street Zen downgraded Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. BTIG Research reissued a “buy” rating and issued a $151.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. UBS Group boosted their price target on Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.30.

Insider Activity

In related news, insider Joana Goncalves sold 7,000 shares of Oruka Therapeutics stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.84, for a total transaction of $782,880.00. Following the transaction, the insider owned 32,718 shares in the company, valued at approximately $3,659,181.12. The trade was a 17.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Otto Klein sold 1,729 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 925,580 shares of the company’s stock, valued at $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 83,116 shares of company stock valued at $6,636,533 over the last 90 days. Company insiders own 23.49% of the company’s stock.

Oruka Therapeutics Trading Down 0.0%

Shares of NASDAQ:ORKA opened at $91.14 on Monday. The stock has a 50 day moving average of $94.60 and a 200 day moving average of $67.75. The company has a market cap of $6.03 billion, a PE ratio of -44.90 and a beta of -0.34. 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 earnings results on Monday, August 10th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). Equities research analysts predict that Oruka Therapeutics, Inc. will post -2.33 earnings per share for the current fiscal year.

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.