Karuna Therapeutics, Inc. (NASDAQ:KRTX) Insider Sells $520,500.00 in Stock

Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $104.10, for a total value of $520,500.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at $1,561,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of KRTX traded down $12.90 during trading hours on Monday, hitting $93.97. 493,125 shares of the company were exchanged, compared to its average volume of 216,441. The stock has a market capitalization of $2.81 billion, a P/E ratio of -16.27 and a beta of 2.06. Karuna Therapeutics, Inc. has a fifty-two week low of $92.86 and a fifty-two week high of $161.98. The business’s fifty day simple moving average is $120.13.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($1.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.10) by $0.15. During the same period last year, the business earned ($1.10) EPS. As a group, equities research analysts anticipate that Karuna Therapeutics, Inc. will post -7.78 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRTX. Exane Derivatives bought a new stake in shares of Karuna Therapeutics during the 4th quarter worth $105,000. State Board of Administration of Florida Retirement System lifted its position in shares of Karuna Therapeutics by 4.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 7,854 shares of the company’s stock worth $961,000 after buying an additional 340 shares during the last quarter. L & S Advisors Inc bought a new stake in shares of Karuna Therapeutics during the 4th quarter worth $393,000. OLD Mission Capital LLC bought a new stake in shares of Karuna Therapeutics during the 3rd quarter worth $518,000. Finally, Swiss National Bank lifted its position in shares of Karuna Therapeutics by 9.1% during the 3rd quarter. Swiss National Bank now owns 45,500 shares of the company’s stock worth $5,566,000 after buying an additional 3,800 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on KRTX. Jefferies Financial Group boosted their target price on Karuna Therapeutics from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Tuesday, March 8th. Mizuho boosted their target price on Karuna Therapeutics from $178.00 to $190.00 in a report on Wednesday, April 27th. Zacks Investment Research raised Karuna Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 8th. Wedbush boosted their target price on Karuna Therapeutics from $167.00 to $176.00 and gave the stock an “outperform” rating in a report on Monday, January 24th. Finally, Berenberg Bank began coverage on Karuna Therapeutics in a report on Thursday, March 31st. They issued a “buy” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Karuna Therapeutics currently has an average rating of “Buy” and a consensus price target of $176.22.

About Karuna Therapeutics (Get Rating)

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 is 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 dementia-related psychosis.

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