Insider Buying: Oruka Therapeutics, Inc. (NASDAQ:ORKA) Major Shareholder Acquires 88,794 Shares of Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) major shareholder Venrock Healthcare Capital Par bought 88,794 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $11.44 per share, for a total transaction of $1,015,803.36. Following the completion of the acquisition, the insider now owns 4,148,428 shares in the company, valued at $47,458,016.32. This trade represents a 2.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Venrock Healthcare Capital Par also recently made the following trade(s):

• On Wednesday, February 12th, Venrock Healthcare Capital Par purchased 8,971 shares of Oruka Therapeutics stock. The shares were acquired at an average cost of $11.86 per share, for a total transaction of $106,396.06.
• On Monday, February 10th, Venrock Healthcare Capital Par acquired 574 shares of Oruka Therapeutics stock. The stock was acquired at an average cost of $10.90 per share, with a total value of $6,256.60.

Oruka Therapeutics Price Performance

ORKA stock traded down $0.97 during trading hours on Thursday, hitting $9.56. 414,591 shares of the stock were exchanged, compared to its average volume of 292,147. Oruka Therapeutics, Inc. has a 12 month low of $9.53 and a 12 month high of $53.88. The firm has a market cap of $334.59 million, a price-to-earnings ratio of -1.53 and a beta of 0.77. The firm has a 50-day moving average price of $14.72.

Analysts Set New Price Targets

A number of research firms recently weighed in on ORKA. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Oruka Therapeutics in a report on Friday, February 7th. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of Oruka Therapeutics in a report on Tuesday, November 19th. Finally, Wolfe Research began coverage on shares of Oruka Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $20.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $39.86.

Hedge Funds Weigh In On Oruka Therapeutics

A number of hedge funds have recently bought and sold shares of ORKA. The Manufacturers Life Insurance Company acquired a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $1,037,000. FMR LLC bought a new stake in shares of Oruka Therapeutics in the third quarter valued at approximately $114,763,000. Great Point Partners LLC acquired a new stake in Oruka Therapeutics during the third quarter worth approximately $12,614,000. Braidwell LP acquired a new stake in Oruka Therapeutics during the third quarter worth approximately $12,640,000. Finally, Janus Henderson Group PLC bought a new position in Oruka Therapeutics during the 3rd quarter worth $5,840,000. 56.44% of the stock is owned by institutional investors.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.