Insider Buying: Oruka Therapeutics, Inc. (NASDAQ:ORKA) Major Shareholder Buys 8,971 Shares of Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) major shareholder Venrock Healthcare Capital Par bought 8,971 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average cost of $11.86 per share, for a total transaction of $106,396.06. Following the purchase, the insider now owns 4,044,684 shares of the company’s stock, valued at approximately $47,969,952.24. The trade was a 0.22 % increase in their position. The acquisition 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 shares are required to disclose their transactions with the SEC.

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

• On Friday, February 14th, Venrock Healthcare Capital Par purchased 88,794 shares of Oruka Therapeutics stock. The stock was purchased at an average price of $11.44 per share, for a total transaction of $1,015,803.36.
• On Monday, February 10th, Venrock Healthcare Capital Par purchased 574 shares of Oruka Therapeutics stock. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $6,256.60.

Oruka Therapeutics Stock Down 9.2 %

Shares of ORKA traded down $0.97 during mid-day trading on Thursday, hitting $9.56. 414,591 shares of the company’s stock traded hands, compared to its average volume of 292,147. The business has a 50-day simple moving average of $14.72. The stock has a market cap of $334.59 million, a price-to-earnings ratio of -1.53 and a beta of 0.77. Oruka Therapeutics, Inc. has a 1 year low of $9.53 and a 1 year high of $53.88.

Institutional Investors Weigh In On Oruka Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in Oruka Therapeutics during the 3rd quarter valued at $1,037,000. FMR LLC purchased a new stake in shares of Oruka Therapeutics during the third quarter valued at $114,763,000. Great Point Partners LLC bought a new stake in Oruka Therapeutics in the 3rd quarter worth about $12,614,000. Braidwell LP bought a new stake in Oruka Therapeutics in the 3rd quarter worth about $12,640,000. Finally, Janus Henderson Group PLC purchased a new position in Oruka Therapeutics in the 3rd quarter worth about $5,840,000. 56.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Oruka Therapeutics

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.