Vanguard Group Inc. Raises Position in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Vanguard Group Inc. increased its position in Oruka Therapeutics, Inc. (NASDAQ:ORKA - Free Report) by 4,161.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,610,651 shares of the company's stock after purchasing an additional 1,572,853 shares during the quarter. Vanguard Group Inc. owned approximately 4.60% of Oruka Therapeutics worth $31,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. purchased a new position in Oruka Therapeutics during the third quarter valued at $17,661,000. Wellington Management Group LLP bought a new position in shares of Oruka Therapeutics in the 3rd quarter worth about $2,013,000. Charles Schwab Investment Management Inc. bought a new position in shares of Oruka Therapeutics in the 4th quarter worth about $303,000. Geode Capital Management LLC purchased a new position in Oruka Therapeutics during the 3rd quarter valued at about $343,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Oruka Therapeutics during the fourth quarter worth about $144,000. 56.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ORKA shares. 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. HC Wainwright reissued a "buy" rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Friday, February 7th. Finally, Wolfe Research assumed coverage on shares of Oruka Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $39.86.

Oruka Therapeutics Stock Performance

Shares of NASDAQ:ORKA traded up $0.61 during midday trading on Friday, reaching $9.22. 150,023 shares of the company's stock traded hands, compared to its average volume of 237,939. Oruka Therapeutics, Inc. has a one year low of $5.49 and a one year high of $31.13. The company has a market cap of $345.02 million, a price-to-earnings ratio of -1.47 and a beta of 0.47. The stock has a 50 day moving average of $10.15 and a 200 day moving average of $17.31.

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

Insider Activity at Oruka Therapeutics

In other news, major shareholder Venrock Healthcare Capital Par acquired 88,794 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $11.44 per share, with a total value of $1,015,803.36. Following the completion of the acquisition, the insider now directly owns 4,148,428 shares of the company's stock, valued at approximately $47,458,016.32. The trade was a 2.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 98,339 shares of company stock worth $1,128,456 over the last quarter. Company insiders own 22.67% of the company's stock.

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.