AIA Group Ltd Takes $1.15 Million Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

AIA Group Ltd bought a new stake in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,630 shares of the company’s stock, valued at approximately $1,149,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Karuna Therapeutics by 0.6% during the third quarter. FMR LLC now owns 5,650,167 shares of the company’s stock valued at $955,387,000 after purchasing an additional 33,579 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Karuna Therapeutics by 3.4% during the third quarter. Vanguard Group Inc. now owns 3,203,585 shares of the company’s stock valued at $541,694,000 after purchasing an additional 105,686 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Karuna Therapeutics by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,481,560 shares of the company’s stock valued at $450,751,000 after purchasing an additional 118,256 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Karuna Therapeutics by 2.7% during the first quarter. BlackRock Inc. now owns 2,469,799 shares of the company’s stock valued at $448,614,000 after purchasing an additional 66,068 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Karuna Therapeutics by 23.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,202,631 shares of the company’s stock valued at $236,317,000 after purchasing an additional 229,374 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on KRTX shares. Wedbush lowered Karuna Therapeutics from an “outperform” rating to a “neutral” rating and set a $330.00 target price for the company. in a report on Friday, December 22nd. Guggenheim reissued a “neutral” rating on shares of Karuna Therapeutics in a report on Friday, December 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a report on Tuesday, February 20th. HC Wainwright reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a report on Thursday, March 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Karuna Therapeutics in a report on Friday, December 22nd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Karuna Therapeutics has a consensus rating of “Hold” and a consensus target price of $293.92.

Karuna Therapeutics Stock Performance

Shares of NASDAQ KRTX opened at $329.83 on Friday. The stock has a fifty day moving average price of $324.58 and a two-hundred day moving average price of $265.86. The firm has a market cap of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a 1 year low of $158.38 and a 1 year high of $329.99.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). The firm’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.22) earnings per share. On average, research analysts predict that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current fiscal year.

Insider Transactions at Karuna Therapeutics

In other news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the completion of the sale, the insider now directly owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.20% of the company’s stock.

Karuna Therapeutics Profile

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 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.