Paradigm Biocapital Advisors LP Grows Stock Position in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Paradigm Biocapital Advisors LP lifted its stake in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 819,660 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Oruka Therapeutics accounts for about 0.6% of Paradigm Biocapital Advisors LP’s portfolio, making the stock its 27th largest holding. Paradigm Biocapital Advisors LP’s holdings in Oruka Therapeutics were worth $15,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORKA. JPMorgan Chase & Co. acquired a new stake in shares of Oruka Therapeutics in the 4th quarter worth $54,000. AlphaCentric Advisors LLC acquired a new position in Oruka Therapeutics in the 4th quarter valued at about $119,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Oruka Therapeutics in the 4th quarter valued at approximately $144,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Oruka Therapeutics during the 4th quarter valued at approximately $303,000. Finally, Jane Street Group LLC acquired a new position in Oruka Therapeutics in the fourth quarter valued at approximately $343,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Insider Activity

In other Oruka Therapeutics news, major shareholder Venrock Healthcare Capital Par bought 88,794 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $11.44 per share, for a total transaction of $1,015,803.36. Following the completion of the transaction, the insider now owns 4,148,428 shares in the company, valued at approximately $47,458,016.32. The trade was a 2.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.67% of the company’s stock.

Wall Street Analysts Forecast Growth

ORKA has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research note on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research note on Friday, March 7th. Finally, Wolfe Research started coverage on shares of Oruka Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $20.00 price target 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $39.86.

Oruka Therapeutics Trading Down 1.3%

ORKA stock opened at $9.62 on Wednesday. The business’s fifty day moving average price is $9.93 and its 200 day moving average price is $15.19. Oruka Therapeutics, Inc. has a 12-month low of $5.49 and a 12-month high of $31.13. The company has a market capitalization of $360.18 million, a PE ratio of -1.54 and a beta of 0.25.

Oruka Therapeutics (NASDAQ:ORKA) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.19. Research analysts predict that Oruka Therapeutics, Inc. will post -3.41 EPS for the current fiscal year.

Oruka Therapeutics 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.