Stephen K. Brannan Sells 5,000 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) Stock

Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $216.00, for a total value of $1,080,000.00. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at $3,240,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Karuna Therapeutics Stock Up 1.9 %

Shares of NASDAQ:KRTX opened at $231.67 on Friday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of -30.57 and a beta of 1.18. Karuna Therapeutics, Inc. has a 52 week low of $92.26 and a 52 week high of $278.25. The firm has a 50 day moving average of $225.26 and a 200 day moving average of $173.01.

Hedge Funds Weigh In On Karuna Therapeutics

A number of large investors have recently made changes to their positions in KRTX. IFP Advisors Inc acquired a new position in shares of Karuna Therapeutics in the 3rd quarter valued at $35,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Karuna Therapeutics in the 3rd quarter valued at $72,000. Lazard Asset Management LLC acquired a new position in shares of Karuna Therapeutics in the 1st quarter valued at $87,000. Dupont Capital Management Corp acquired a new position in shares of Karuna Therapeutics in the 3rd quarter valued at $96,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Karuna Therapeutics by 11.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 766 shares of the company’s stock valued at $97,000 after acquiring an additional 80 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on KRTX. HC Wainwright lifted their price target on Karuna Therapeutics from $160.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Guggenheim lifted their price target on Karuna Therapeutics from $200.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. The Goldman Sachs Group lifted their price target on Karuna Therapeutics from $228.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. SVB Leerink lifted their price target on Karuna Therapeutics from $170.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 9th. Finally, Citigroup boosted their target price on Karuna Therapeutics to $280.00 in a research report on Monday, August 15th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $259.47.

About Karuna Therapeutics

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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.

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

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