The Manufacturers Life Insurance Company Invests $6.51 Million in Oruka Therapeutics, Inc. $ORKA

The Manufacturers Life Insurance Company bought a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) in the second quarter, HoldingsChannel reports. The firm bought 68,421 shares of the company’s stock, valued at approximately $6,512,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Oruka Therapeutics in the 2nd quarter worth $474,916,000. Viking Global Investors LP purchased a new position in shares of Oruka Therapeutics during the third quarter valued at about $51,280,000. Paradigm Biocapital Advisors LP bought a new stake in shares of Oruka Therapeutics in the fourth quarter worth about $51,840,000. Remedium Capital Partners LLC bought a new stake in shares of Oruka Therapeutics in the fourth quarter worth about $47,054,000. Finally, Deep Track Capital LP lifted its position in shares of Oruka Therapeutics by 38.4% in the third quarter. Deep Track Capital LP now owns 2,654,781 shares of the company’s stock worth $51,051,000 after buying an additional 735,983 shares in the last quarter. 56.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Arjun Agarwal sold 10,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were 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 of the company’s stock, valued at $1,633,177.92. This represents a 39.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lawrence Otto Klein sold 1,729 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 925,580 shares of the company’s stock, valued at approximately $64,503,670.20. The trade was 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 a total of 83,116 shares of company stock worth $6,636,533 over the last 90 days. Insiders own 23.49% of the company’s stock.

Oruka Therapeutics Stock Performance

NASDAQ:ORKA opened at $91.14 on Monday. The stock’s fifty day moving average is $94.60 and its 200 day moving average is $67.75. Oruka Therapeutics, Inc. has a fifty-two week low of $14.61 and a fifty-two week high of $115.51. The firm has a market capitalization of $6.03 billion, a PE ratio of -44.90 and a beta of -0.34.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings upgraded Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Wedbush reiterated an “outperform” rating and set a $165.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Oruka Therapeutics in a report on Monday, August 3rd. BTIG Research restated a “buy” rating and issued a $151.00 price target on shares of Oruka Therapeutics in a research report on Tuesday, August 11th. Finally, UBS Group upped their price target on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Oruka Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $134.30.

Oruka Therapeutics 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.