Insider Selling: Oruka Therapeutics (NASDAQ:ORKA) CEO Sells 25,000 Shares of Company Stock

Oruka Therapeutics, Inc. (NASDAQ:ORKA) CEO Lawrence Klein sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $83.62, for a total transaction of $2,090,500.00. Following the transaction, the chief executive officer directly owned 923,128 shares of the company’s stock, valued at approximately $77,191,963.36. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lawrence Otto Klein also recently made the following trade(s):

• On Tuesday, September 15th, Lawrence Klein sold 2,452 shares of Oruka Therapeutics stock. The shares were sold at an average price of $95.71, for a total value of $234,680.92.
• On Tuesday, September 1st, Lawrence Klein sold 75,000 shares of Oruka Therapeutics stock. The shares were sold at an average price of $91.83, for a total value of $6,887,250.00.

Oruka Therapeutics Price Performance

NASDAQ:ORKA traded up $1.10 during trading hours on Friday, reaching $84.52. 581,494 shares of the company traded hands, compared to its average volume of 969,009. The firm’s 50-day moving average is $95.77 and its 200-day moving average is $77.45. Oruka Therapeutics, Inc. has a 1-year low of $19.04 and a 1-year high of $115.51.

Oruka Therapeutics (NASDAQ:ORKA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). On average, analysts forecast that Oruka Therapeutics, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ORKA shares. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Oruka Therapeutics in a research report on Thursday, September 24th. Weiss Ratings upgraded shares of Oruka Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. BTIG Research reaffirmed a “buy” rating and set a $151.00 price target on shares of Oruka Therapeutics in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Oruka Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Finally, UBS Group boosted their price objective on shares of Oruka Therapeutics from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Oruka Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $128.91.

Institutional Investors Weigh In On Oruka Therapeutics

Hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new stake in shares of Oruka Therapeutics in the second quarter valued at $350,000. Arizona State Retirement System lifted its position in Oruka Therapeutics by 45.0% during the second quarter. Arizona State Retirement System now owns 8,671 shares of the company’s stock worth $825,000 after buying an additional 2,691 shares during the period. Nykredit A S acquired a new stake in Oruka Therapeutics in the 2nd quarter worth about $29,000. Braidwell LP acquired a new stake in Oruka Therapeutics in the 2nd quarter worth about $26,473,000. Finally, Natural Investments LLC purchased a new stake in Oruka Therapeutics in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc (NASDAQ: ORKA) is a clinical-stage biopharmaceutical company developing long-acting antibody therapies for immune-mediated diseases. The company’s approach is designed to extend the duration of treatment and potentially reduce the frequency of dosing for patients with chronic inflammatory conditions.

Oruka’s pipeline includes ORKA-001 and ORKA-002, next-generation monoclonal antibodies targeting interleukin-23 (IL-23), a cytokine involved in several autoimmune and inflammatory diseases.