Karuna Therapeutics, Inc. (NASDAQ:KRTX) Insider Sells $1,591,700.00 in Stock

Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Free Report) insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the transaction, the insider now owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Karuna Therapeutics Trading Down 0.2 %

Shares of NASDAQ:KRTX traded down $0.76 during mid-day trading on Monday, reaching $319.19. The company had a trading volume of 208,957 shares, compared to its average volume of 764,134. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of -27.30 and a beta of 1.18. The company’s 50-day moving average price is $316.52 and its 200-day moving average price is $235.12. Karuna Therapeutics, Inc. has a one year low of $158.38 and a one year high of $321.45.

Karuna Therapeutics (NASDAQ:KRTXGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). The company’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.22) EPS. On average, research analysts anticipate that Karuna Therapeutics, Inc. will post -11.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Karuna Therapeutics

A number of hedge funds have recently modified their holdings of KRTX. Capital International Ltd. CA purchased a new position in Karuna Therapeutics in the 2nd quarter valued at approximately $2,216,000. Capital International Investors grew its stake in Karuna Therapeutics by 17.8% in the 2nd quarter. Capital International Investors now owns 3,992,549 shares of the company’s stock valued at $865,784,000 after buying an additional 602,942 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in Karuna Therapeutics in the 2nd quarter valued at approximately $32,842,000. SG Americas Securities LLC grew its stake in Karuna Therapeutics by 598.2% in the 3rd quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock valued at $1,141,000 after buying an additional 5,779 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Karuna Therapeutics in the 3rd quarter valued at approximately $2,029,000.

Analyst Ratings Changes

KRTX has been the subject of a number of analyst reports. William Blair downgraded Karuna Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, December 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $330.00 price target (up previously from $295.00) on shares of Karuna Therapeutics in a research note on Friday, December 22nd. Citigroup initiated coverage on Karuna Therapeutics in a research note on Tuesday, December 12th. They set a “buy” rating and a $291.00 price target for the company. Mizuho reiterated a “neutral” rating and set a $330.00 price target (up previously from $245.00) on shares of Karuna Therapeutics in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $330.00 target price (up previously from $217.00) on shares of Karuna Therapeutics in a research report on Thursday, December 28th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Karuna Therapeutics presently has an average rating of “Hold” and a consensus target price of $293.92.

View Our Latest Stock Analysis on KRTX

About Karuna Therapeutics

(Get Free Report)

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate includes KarXT, an oral modulator of muscarinic receptors that is in Phase III clinical trial for the treatment of acute psychosis in patients with schizophrenia; and for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of various peripheral tissues and dementia-related psychosis, including Alzheimer's disease.

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Insider Buying and Selling by Quarter for Karuna Therapeutics (NASDAQ:KRTX)

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