Karuna Therapeutics, Inc. (NASDAQ:KRTX) Director James Healy Sells 6,027 Shares of Stock

Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) Director James Healy sold 6,027 shares of Karuna Therapeutics stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $199.90, for a total value of $1,204,797.30. Following the completion of the transaction, the director now owns 32,500 shares in the company, valued at $6,496,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Karuna Therapeutics Trading Down 0.7 %

NASDAQ KRTX opened at $199.27 on Wednesday. The stock’s 50 day moving average is $209.76 and its two-hundred day moving average is $207.79. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -26.78 and a beta of 1.25. Karuna Therapeutics, Inc. has a 1-year low of $92.26 and a 1-year high of $278.25.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($2.38) EPS for the quarter, missing the consensus estimate of ($1.99) by ($0.39). The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $10.00 million. On average, analysts predict that Karuna Therapeutics, Inc. will post -8.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Arthur M. Cohen & Associates LLC boosted its holdings in shares of Karuna Therapeutics by 50.0% in the 4th quarter. Arthur M. Cohen & Associates LLC now owns 1,643 shares of the company’s stock worth $323,000 after acquiring an additional 548 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Karuna Therapeutics by 15.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,915 shares of the company’s stock worth $1,555,000 after acquiring an additional 1,034 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Karuna Therapeutics in the 3rd quarter worth approximately $5,390,000. California State Teachers Retirement System boosted its holdings in shares of Karuna Therapeutics by 14.8% in the 3rd quarter. California State Teachers Retirement System now owns 34,764 shares of the company’s stock worth $7,819,000 after acquiring an additional 4,488 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Karuna Therapeutics in the 3rd quarter worth approximately $51,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Mizuho dropped their price objective on Karuna Therapeutics from $276.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, December 9th. Wells Fargo & Company lowered their price target on Karuna Therapeutics from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Royal Bank of Canada boosted their price target on Karuna Therapeutics from $292.00 to $293.00 in a research note on Thursday, September 29th. Piper Sandler started coverage on Karuna Therapeutics in a research note on Thursday, January 5th. They set an “overweight” rating and a $285.00 price target on the stock. Finally, Loop Capital started coverage on Karuna Therapeutics in a research note on Tuesday, November 1st. They set a “buy” rating and a $288.00 price target on the stock. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $260.69.

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.