The cluster is dominated by passive rebalancing, not active conviction. Monitor next 13F filing for active fund entries or exits. The 95% analyst bullish consensus and $3.9B market cap suggest the stock is well-covered but this filing provides no new catalyst signal.
Executive Summary
Five mega-passive institutional investors (State Street, Fidelity, T. Rowe Price, Schwab, BofA) increased their ORKA holdings by a net $90.1M in Q3 2025, while only Morgan Stanley trimmed a small position. The buying is dominated by passive/index fund managers, suggesting index rebalancing or passive inflows rather than an active investment thesis. The cluster is directionally bullish but lacks conviction from active managers.
Key Financial Metrics
Institutional Positions
Net institutional flow: $90.1M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | ADD | +74.9% | $12.5M | $8.4M |
| Fidelity | ADD | +29.2% | $139.6M | $76.6M |
| T. Rowe Price | ADD | +52.6% | $12.0K | $7.0K |
| Schwab | DOUBLED | +194% | $4.7M | $3.8M |
| BofA | DOUBLED | +319.1% | $1.5M | $1.3M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | TRIM | -35.3% | $2.3M | $257.0K |
Key Facts
- 5 buyers added $90.1M net; 1 seller trimmed $257K
- All 5 buyers are mega-passive managers (State Street, Fidelity, T. Rowe Price, Schwab, BofA)
- Fidelity alone added $76.6M, representing 85% of total buying
- Morgan Stanley trimmed 35.3% of its position but its value rose $257K due to stock appreciation
- No active hedge funds, activists, or family offices participated in the cluster
Financial Impact
Net institutional buying of $90.1M, with Fidelity contributing $76.6M of that total. Total buyer holdings now $158.4M.
Risk Factors
- Passive buying may reverse if ORKA is removed from an index or if passive flows rotate out of small/mid-cap pharma
- No active manager participation means no informed catalyst thesis to follow
- Historical calibration shows score-6/7/8 reports on ORKA have negative net alpha at T+20
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ORKA-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Insider Cluster | $93.55 $89.93 | ▼ −3.87% | ▼ −6.44% | — |
Sep 1, 2026 4w ago | Insider Cluster | $91.63 $91.65 | ▼ −0.02% | ▼ −0.98% | — |
Aug 28, 2026 5w ago | EFFECT | $91.15 $92.51 | ▼ −1.50% | ▼ −1.39% | — |
Aug 17, 2026 6w ago | Insider Cluster | $113.08 $101.82 | ▼ −9.96% | ▼ −9.76% | — |
Aug 10, 2026 7w ago | Press Release | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | — |
Aug 10, 2026 7w ago | 8-K | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | — |
Aug 9, 2026 7w ago | Institutional Cluster | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | — |
Jul 15, 2026 11w ago | Insider Cluster | $83.04 $91.95 | ▲ +10.73% | ▲ +12.40% | — |
Jul 2, 2026 13w ago | Insider Cluster | $85.21 $88.27 | ▲ +3.59% | ▲ +2.66% | — |
Jun 22, 2026 14w ago | Insider Cluster | $83.40 $92.49 | ▲ +10.90% | ▲ +9.89% | — |
US Market Status
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