1,182 Shares in Karuna Therapeutics, Inc. (NASDAQ:KRTX) Bought by Headlands Technologies LLC

Headlands Technologies LLC bought a new position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,182 shares of the company’s stock, valued at approximately $374,000.

A number of other institutional investors have also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its stake in Karuna Therapeutics by 9.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,720 shares of the company’s stock worth $6,558,000 after buying an additional 1,872 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Karuna Therapeutics during the fourth quarter worth $127,000. Handelsbanken Fonder AB boosted its stake in shares of Karuna Therapeutics by 22.8% in the 4th quarter. Handelsbanken Fonder AB now owns 7,000 shares of the company’s stock valued at $2,216,000 after purchasing an additional 1,300 shares in the last quarter. CWM LLC boosted its stake in shares of Karuna Therapeutics by 75.5% in the 4th quarter. CWM LLC now owns 272 shares of the company’s stock valued at $86,000 after purchasing an additional 117 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Karuna Therapeutics by 77.1% in the 4th quarter. Signaturefd LLC now owns 487 shares of the company’s stock valued at $154,000 after purchasing an additional 212 shares in the last quarter.

Wall Street Analyst Weigh In

KRTX has been the topic of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research note on Tuesday, February 20th. Mizuho restated a “neutral” rating and issued a $330.00 target price (up previously from $245.00) on shares of Karuna Therapeutics in a research note on Friday, January 26th. Finally, HC Wainwright restated a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research note on Thursday, March 14th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.92.

Insiders Place Their Bets

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

Karuna Therapeutics Price Performance

Karuna Therapeutics stock opened at $329.83 on Friday. The stock has a 50-day simple moving average of $325.66 and a 200 day simple moving average of $272.08. Karuna Therapeutics, Inc. has a 12-month low of $158.38 and a 12-month high of $329.99. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18.

Karuna Therapeutics (NASDAQ:KRTX) last released 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 quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the company earned ($2.22) earnings per share. As a group, sell-side analysts anticipate that Karuna Therapeutics, Inc. will post -11.96 EPS for the current year.

About Karuna Therapeutics

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.