Oruka Therapeutics sees $1.41 million in stock purchases by Venrock

Oruka Therapeutics, Inc. (NASDAQ:ORKA), currently trading at $9.56 and down over 66% in the past six months, recently witnessed significant stock purchases by Venrock Healthcare Capital Partners (WA:CPAP) III, L.P. and associated entities. According to the latest SEC filings, the investment group acquired shares in a series of transactions from February 10 to February 14, 2025, totaling approximately $1.41 million.

The purchases occurred at prices ranging from $10.90 to $11.86 per share, indicating a strategic accumulation of Oruka Therapeutics’ common stock. These transactions reflect Venrock’s continued interest in the pharmaceutical company, which specializes in therapeutic preparations. Notably, analyst price targets range from $20 to $49, suggesting potential upside despite recent market weakness. InvestingPro data shows the stock is currently trading near its 52-week low of $9.53, with technical indicators suggesting oversold conditions.

Venrock Healthcare Capital Partners III, L.P., along with VHCP Co-Investment Holdings III, LLC, VHCP Management EG, LLC, and other related entities, is noted as a ten percent owner of Oruka Therapeutics, underscoring their significant stake in the company. The transactions were executed under indirect ownership by funds managed by these entities.

This move aligns with Venrock’s investment strategy in life sciences and healthcare sectors, as they leverage their expertise to potentially enhance the value of their holdings in Oruka Therapeutics.

In other recent news, Oruka Therapeutics has entered into an exclusive licensing agreement with Paragon Therapeutics, which could involve milestone payments totaling up to $22 million. This deal gives Oruka the rights to develop and commercialize antibodies targeting IL-17A/F and IL-23, with Paragon providing a royalty-bearing license to its patents. The agreement includes initial payments of $1.5 million for development candidate nomination and $2.5 million upon the first human dosing in a Phase 1 trial. Oruka is obligated to pay royalties on sales, which will decrease if no effective Paragon patents are in place during the royalty term. Additionally, H.C. Wainwright has maintained a Buy rating for Oruka, with a price target of $45, following the initiation of a Phase 1 trial for ORKA-001. This trial marks a significant milestone as Oruka moves forward with its leading drug candidate. The company plans to release interim data in the second half of 2025, with a proof-of-concept study to follow if results are favorable. These developments reflect Oruka’s strategic advancements in the biopharmaceutical sector.

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