Oruka Therapeutics, Inc. $ORKA Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC lessened its holdings in Oruka Therapeutics, Inc. (NASDAQ:ORKA) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,899 shares of the company’s stock after selling 6,523 shares during the quarter. Oruka Therapeutics comprises approximately 0.9% of Secure Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Secure Asset Management LLC’s holdings in Oruka Therapeutics were worth $6,272,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ORKA. BlackRock Inc. purchased a new stake in shares of Oruka Therapeutics during the second quarter worth $474,916,000. Viking Global Investors LP purchased a new position in Oruka Therapeutics in the third quarter valued at $51,280,000. Paradigm Biocapital Advisors LP acquired a new position in Oruka Therapeutics during the 4th quarter worth $51,840,000. Remedium Capital Partners LLC acquired a new position in Oruka Therapeutics during the 4th quarter worth $47,054,000. Finally, Jupiter Topco LLC acquired a new position in Oruka Therapeutics during the 2nd quarter worth $130,968,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Oruka Therapeutics Trading Down 0.6%

Shares of ORKA stock opened at $92.11 on Wednesday. The company has a market cap of $6.10 billion, a P/E ratio of -45.37 and a beta of -0.34. The firm has a fifty day moving average price of $94.92 and a 200 day moving average price of $68.59. Oruka Therapeutics, Inc. has a 12 month low of $14.66 and a 12 month high of $115.51.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). On average, equities analysts forecast that Oruka Therapeutics, Inc. will post -2.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joana Goncalves sold 7,947 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.28, for a total value of $550,568.16. Following the transaction, the insider owned 32,718 shares in the company, valued at approximately $2,266,703.04. This represents a 19.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, SVP Arjun Agarwal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $106.66, for a total value of $1,066,600.00. Following the sale, the senior vice president directly owned 15,312 shares in the company, valued at $1,633,177.92. This trade represents a 39.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 158,116 shares of company stock valued at $13,523,783. 23.49% of the stock is owned by insiders.

Analysts Set New Price Targets

ORKA has been the topic of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $151.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Wedbush reaffirmed an “outperform” rating and issued a $165.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $200.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.