Karuna Therapeutics, Inc. (NASDAQ:KRTX) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC trimmed its position in Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) by 36.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 350,000 shares of the company’s stock after selling 200,000 shares during the quarter. Farallon Capital Management LLC’s holdings in Karuna Therapeutics were worth $44,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KRTX. ARCH Venture Management LLC purchased a new position in Karuna Therapeutics in the 4th quarter worth approximately $381,586,000. State Street Corp lifted its stake in Karuna Therapeutics by 22.3% in the 1st quarter. State Street Corp now owns 1,026,507 shares of the company’s stock worth $130,151,000 after purchasing an additional 187,142 shares in the last quarter. Deep Track Capital LP purchased a new position in Karuna Therapeutics in the 4th quarter worth approximately $17,056,000. Lord Abbett & CO. LLC lifted its stake in Karuna Therapeutics by 52.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 369,545 shares of the company’s stock worth $46,854,000 after purchasing an additional 127,840 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Karuna Therapeutics by 132.7% in the 1st quarter. Bank of New York Mellon Corp now owns 211,678 shares of the company’s stock worth $26,839,000 after purchasing an additional 120,709 shares in the last quarter.

Karuna Therapeutics Stock Performance

Karuna Therapeutics stock opened at $255.88 on Tuesday. Karuna Therapeutics, Inc. has a fifty-two week low of $92.26 and a fifty-two week high of $278.25. The firm has a 50 day moving average price of $196.64 and a 200 day moving average price of $143.32. The company has a market capitalization of $7.66 billion, a PE ratio of -37.74 and a beta of 1.21.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last posted its earnings results on Monday, August 8th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.07). As a group, equities research analysts forecast that Karuna Therapeutics, Inc. will post -8.08 earnings per share for the current year.

Analyst Ratings Changes

KRTX has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Karuna Therapeutics from $186.00 to $264.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Bank of America raised their target price on shares of Karuna Therapeutics from $160.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Royal Bank of Canada lifted their price target on shares of Karuna Therapeutics from $160.00 to $292.00 and gave the company an “outperform” rating in a research report on Friday, August 12th. Citigroup lifted their price target on shares of Karuna Therapeutics to $280.00 in a research report on Monday, August 15th. Finally, SVB Leerink lifted their price target on shares of Karuna Therapeutics from $170.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $239.50.

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 on Friday, September 9th. The shares were sold at an average price of $243.46, for a total value of $1,217,300.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $3,651,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $243.46, for a total value of $1,217,300.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $3,651,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Healy purchased 47,777 shares of the company’s stock in a transaction on Wednesday, June 29th. The stock was acquired at an average price of $123.04 per share, with a total value of $5,878,482.08. Following the purchase, the director now owns 2,000,218 shares of the company’s stock, valued at $246,106,822.72. The disclosure for this purchase can be found here. Insiders sold a total of 62,500 shares of company stock worth $12,945,435 over the last 90 days. Corporate insiders own 16.20% of the company’s stock.

Karuna Therapeutics Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Karuna Therapeutics (NASDAQ:KRTX)

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