US Bancorp DE Lowers Stock Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

US Bancorp DE trimmed its position in Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,585 shares of the company’s stock after selling 797 shares during the quarter. US Bancorp DE’s holdings in Karuna Therapeutics were worth $807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Karuna Therapeutics in the third quarter worth about $72,000. Lazard Asset Management LLC purchased a new stake in shares of Karuna Therapeutics in the first quarter worth about $87,000. Nisa Investment Advisors LLC raised its stake in Karuna Therapeutics by 11.7% in the second quarter. Nisa Investment Advisors LLC now owns 766 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Arthur M. Cohen & Associates LLC purchased a new stake in Karuna Therapeutics in the third quarter valued at approximately $246,000. Finally, Ballentine Partners LLC purchased a new stake in Karuna Therapeutics in the third quarter valued at approximately $261,000.

Karuna Therapeutics Stock Performance

Shares of Karuna Therapeutics stock opened at $191.19 on Friday. Karuna Therapeutics, Inc. has a 52-week low of $92.26 and a 52-week high of $278.25. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of -25.70 and a beta of 1.25. The company’s 50 day moving average price is $208.64 and its 200-day moving average price is $207.59.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($2.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.99) by ($0.39). The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities research analysts forecast that Karuna Therapeutics, Inc. will post -8.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Karuna Therapeutics

In related news, CFO Troy A. Ignelzi sold 16,500 shares of Karuna Therapeutics stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $225.85, for a total value of $3,726,525.00. Following the sale, the chief financial officer now owns 9,970 shares in the company, valued at $2,251,724.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Troy A. Ignelzi sold 16,500 shares of Karuna Therapeutics stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $225.85, for a total value of $3,726,525.00. Following the sale, the chief financial officer now owns 9,970 shares in the company, valued at $2,251,724.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Troy A. Ignelzi sold 200 shares of Karuna Therapeutics stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $200.14, for a total transaction of $40,028.00. Following the completion of the sale, the chief financial officer now owns 21,837 shares in the company, valued at approximately $4,370,457.18. The disclosure for this sale can be found here. Insiders have sold a total of 67,727 shares of company stock worth $14,843,450 over the last quarter. Corporate insiders own 16.20% of the company’s stock.

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.

Featured Articles

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

Receive News & Ratings for Karuna Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Karuna Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.