Atika Capital Management LLC Invests $11.28 Million in Oruka Therapeutics, Inc. $ORKA

Atika Capital Management LLC purchased a new stake in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 229,900 shares of the company’s stock, valued at approximately $11,277,000. Oruka Therapeutics accounts for 1.4% of Atika Capital Management LLC’s holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of ORKA. Royal Bank of Canada lifted its holdings in Oruka Therapeutics by 47.2% in the fourth quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock worth $34,000 after purchasing an additional 365 shares during the period. Kennedy Capital Management LLC grew its position in Oruka Therapeutics by 0.9% in the 4th quarter. Kennedy Capital Management LLC now owns 48,686 shares of the company’s stock valued at $1,476,000 after buying an additional 420 shares in the last quarter. AlphaCentric Advisors LLC increased its stake in Oruka Therapeutics by 5.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 11,506 shares of the company’s stock valued at $564,000 after buying an additional 626 shares during the period. Russell Investments Group Ltd. increased its stake in Oruka Therapeutics by 35.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,041 shares of the company’s stock valued at $92,000 after buying an additional 788 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Oruka Therapeutics by 62.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,352 shares of the company’s stock worth $71,000 after buying an additional 904 shares in the last quarter. 56.44% of the stock is currently owned by institutional investors.

Insider Activity at Oruka Therapeutics

In other Oruka Therapeutics news, Director Carl Dambkowski sold 105,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $58.97, for a total value of $6,191,850.00. Following the completion of the sale, the director directly owned 73,743 shares of the company’s stock, valued at $4,348,624.71. This represents a 58.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joana Goncalves sold 7,947 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $69.28, for a total transaction of $550,568.16. Following the transaction, the insider owned 32,718 shares in the company, valued at approximately $2,266,703.04. The trade was a 19.54% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 188,406 shares of company stock valued at $12,019,683 in the last 90 days. 23.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, June 2nd. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, June 23rd. Weiss Ratings raised Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Barclays upped their target price on Oruka Therapeutics from $78.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Leerink Partners set a $120.00 price target on shares of Oruka Therapeutics in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.30.

Oruka Therapeutics Trading Down 0.6%

NASDAQ:ORKA opened at $91.95 on Friday. Oruka Therapeutics, Inc. has a 1 year low of $12.84 and a 1 year high of $97.78. The firm’s fifty day simple moving average is $74.78 and its 200 day simple moving average is $55.22. The firm has a market capitalization of $5.55 billion, a PE ratio of -47.40 and a beta of -0.35.

Oruka Therapeutics (NASDAQ:ORKA) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.04. As a group, analysts anticipate that Oruka Therapeutics, Inc. will post -2.06 EPS 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.