Charles Schwab Investment Management Inc. Takes Position in Oruka Therapeutics, Inc. (NASDAQ:ORKA)

Charles Schwab Investment Management Inc. purchased a new position in shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,608 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds have also made changes to their positions in ORKA. The Manufacturers Life Insurance Company acquired a new stake in Oruka Therapeutics in the 3rd quarter valued at approximately $1,037,000. Wellington Management Group LLP acquired a new position in shares of Oruka Therapeutics during the third quarter valued at $2,013,000. Franklin Resources Inc. acquired a new position in shares of Oruka Therapeutics during the third quarter valued at $17,661,000. Point72 Asset Management L.P. bought a new stake in shares of Oruka Therapeutics during the third quarter valued at about $11,822,000. Finally, Geode Capital Management LLC acquired a new stake in Oruka Therapeutics in the third quarter worth about $343,000. Institutional investors own 56.44% of the company’s stock.

Wall Street Analyst Weigh In

ORKA has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of Oruka Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $20.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of Oruka Therapeutics in a research report on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Oruka Therapeutics in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Oruka Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $39.86.

Insider Transactions at Oruka Therapeutics

In related news, major shareholder Venrock Healthcare Capital Par bought 88,794 shares of Oruka Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $11.44 per share, for a total transaction of $1,015,803.36. Following the acquisition, the insider now owns 4,148,428 shares in the company, valued at $47,458,016.32. This trade represents a 2.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 98,339 shares of company stock valued at $1,128,456. 22.67% of the stock is owned by insiders.

Oruka Therapeutics Price Performance

Oruka Therapeutics stock opened at $9.56 on Wednesday. Oruka Therapeutics, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $31.13. The firm’s 50 day simple moving average is $11.49 and its 200-day simple moving average is $18.97. The company has a market cap of $357.94 million, a P/E ratio of -1.53 and a beta of 0.67.

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. On average, analysts expect 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.