---
title: "Oruka Therapeutics Shares Drop After Hours After Fairmount Unloads 3.55 Million Shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291509634.md"
description: "Oruka Therapeutics (NASDAQ: ORKA) shares dropped 7.74% in after-hours trading to $86.07 following SEC filings revealing that major shareholder Fairmount Healthcare Fund II sold approximately 3.55 million shares worth $300 million via block trade. Despite the sale, Fairmount retains a ~19.47% stake. The stock closed regular trading down 1.98% at $93.29."
datetime: "2026-07-02T06:30:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291509634.md)
  - [en](https://longbridge.com/en/news/291509634.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291509634.md)
---

# Oruka Therapeutics Shares Drop After Hours After Fairmount Unloads 3.55 Million Shares

**Oruka Therapeutics Inc.** (NASDAQ:ORKA) shares fell in after-hours trading on Wednesday after SEC filings showed major shareholder **Fairmount Healthcare Fund II** sold a large block of shares worth about $300 million.

ORKA closed Wednesday’s regular session at $93.29, down 1.98%. In after-hours trading, the stock fell to $86.07, down 7.74%.

Oruka is a clinical-stage biotechnology company focused on developing therapies for chronic skin diseases, including psoriasis and other inflammatory conditions.

## Fairmount Sells Multi-Million Share Block

A Schedule 13D amendment and Form 144 filing showed Fairmount Healthcare Fund II, a major institutional investor and existing Oruka shareholder, converted 42,641 shares of Series B non-voting preferred stock.

The conversion was completed for no cash consideration under the company’s Series B preferred stock terms. Shortly after the conversion, Fairmount sold all 3,553,410 shares in a block trade at $84.43 per share, generating aggregate proceeds of approximately $300 million.

The filings indicate Fairmount remains a major shareholder despite the sale. Following the transaction, Fairmount and affiliated entities still beneficially owned approximately 14.55 million shares, representing about 19.47% of Oruka’s outstanding common stock, including common shares, pre-funded warrants and convertible preferred holdings.

Separately, Chief Operating Officer **Laura Sandler** also reported selling 5,000 shares under a previously adopted Rule 10b5-1 trading plan, though that sale was much smaller than Fairmount’s block transaction.

**Read Also: Gary Black Sees 'Renewed Optimism' for Tesla, Rivian as Q2 Deliveries Loom, Gene Munster Says FSD Is Key**

## Trading Metrics

Oruka Therapeutics has a market capitalization of approximately $5.63 billion.

The stock has traded between a 52-week high of $97.78 and a 52-week low of $11.82.

Over the past 12 months, ORKA shares are up approximately 639.81%.

**Benzinga Edge Stock Rankings** indicate positive short-term, medium-term and long-term price trends.

**_Disclaimer_:** _This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors._

**Read Also: 707 Cayman Holdings (JEM) Stock Rallies Over 27% After Hours: Here's What Is Going on**

_Photo: Who is Danny / Shutterstock_

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